Industry groups issued a report on Thursday that showed that in September of this year the number of car registrations in Spain rose by 18% over the same time period last year, which is the first month in which a decline was not seen in the last 16 months. The Government incentive plan is thought to have a lot to do with the increase.
The increase in car registrations is somewhat the rainbow first seen after a hard rain, as Spain has been very deep in the global recession for quite some time, and has one of the highest unemployment rates in the EU with a total percent of 18.5%.
Anfac conducted the report along with Ganvam, and found that there were a total of 77.374 registrations this September, compared to September 2008 when there were only 65,594 registrations.
However, even with the increase, the figure for the last eight months is still low, compared to the same eight month period of 2008, showing a decrease of 28.6%.
The incentive plan that may have boosted car registrations began in May and offered buyers a €2,000 rebate if they turned in a car that was over ten years old, or had more than 250,000 kilometers on it.