Feb 2nd, 2009 by RJ Menezes
Everyone’s feeling it. The global economic downturn has cast its affects on various regions of the world. Europe has been hit especially hard lately as even car-crazy Spain has seen a drop in new-car sales.
The Spanish nation’s sales for new cars fell a dizzying 41.6 percent in January compared to the same time last year. Last December was no different with sales down a whopping 49 percent compared to the previous year. In fact, sales in all of 2008 are down 28.1 percent to mark one of the worst years ever for the Spanish car market. The news was posted by car manufacturer’s association ANFAC.
While sales keep plummeting, Spain is going through a classic recession phase. The country’s lack of sales is starting to have an effect on the rest of the country’s economy.
Source: Automotive News Europe
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