New car sales with strong drop in Italy, Spain

Posted on Tuesday, 3 February 2009 , 13:02:09 byEmil

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New car sales with strong drop in Italy, Spain

January was a bleak month for brand new auto sales in Italy and Spain. Spanish all-new vehicle sales now dropped 41.6 % compared to exactly the same month previous year to only 59,835 months and Italy had a 33 % drop to 157,000 model despite the old auto scrapping and the new vehicle financing incentives that ae offered by the governments.

So, the sales slide is now worse than even was expected for these countries, Spain especially, where the loans backed by the government to all-new auto clients replacing old autos were introduced recently. 'The lack of access to credit and rising unemployment have kept consumer confidence at minimum levels' ANFAC (Spanish industry association) affirmed in a statement.

Italy will likely reveal a 1,000 Euro or 1,500 program to the incentive drivers of the old vehicles to replace them now with more efficient, cleaner new autos. Industry experts is predicting that this market could win back like 300,000 sales in the current year as a result. The new car sales in Italy are anticipated of being about1.85 million this year compared to the 2008's 2.16 million.