PARIS -- Recently approved government incentives appear to be working in Spain, where new-car sales in June have shot up dramatically since public authorities began offering buyers a 2,000 euro ($2,790) rebate, the Spanish car manufacturers association Anfac said Wednesday.
Anfac reported that new-car sales had reached 64,308 units through June 24, reflecting a 4 percent drop on the same period in 2008.
The performance compares favorably with that seen in the first five months of 2009, when new-car sales were down between 40 percent and 50 percent each month.
If the current trends hold, Anfac predicts that Spain's new-car sales in June could top 110,000 units for the first time since July 2008.
Almost all individual buyers are taking advantage of the 2,000 euro subsidy plan, Anfac said.
Private customer sales are up 18.6 percent to 40,278 cars in June compared with the same period of 2008, Anfac said.
If the trend holds, it will mark the first time in 31 months that sales to individuals has grown, Anfac said.