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Spanish new-car sales jump 24% as scrappage program boosts demand

Thursday 2nd July, 2015

MADRID (Reuters) -- Spanish new-car sales rose 24 percent to 111,333 in June, marking 22 straight months of growth. The increase followed a 14 percent rise in May.

A Spanish government-backed subsidy scheme to boost new-vehicle acquisitions has helped spur purchases over the last two years. It was renewed for the seventh time in May with an injection of 225 million euros ($251 million).

Under the scheme, owners who scrap their cars and buy a new one get 2,000 euros, half of which is provided by the government and half from the carmaker.

In the first six months, Spain's vehicle sales increased increased 22 percent to 555,222 cars, manufacturers' association Anfac said today.


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