Spanish new-car registrations fell by 14 percent in September, according to industry association ANFAC, as economic worries weighed on the market despite a government scrapping program that has been in place since mid-June.
Only a few brands showed significant growth for the month, including DS, Skoda, Kia and Fiat.
There were 70,729 vehicles registered in the month, ANFAC said, with sales to private customers falling 11 percent and company-car sales down 14 percent. Rental car registrations fell by 32 percent.
Through September, overall sales are down 38 percent to 595,435. Sales fell by 10 percent in August after rising 1.1 percent in July, the only monthly increase this year.
The dealer association Ganvam said that “economic uncertainty weighed on September sales,” adding that rental companies postponed fleet renewal with tourism hurt by the coronavirus crisis, and that private customers prioritized saving over spending amid worries about a second wave of the pandemic.
Ganvam estimates that registrations will drop by 30 percent in 2020.
ANFAC said that the government stimulus program, called RENOVE, has enough funding available to support demand until the end of 2020.
“We hope the pandemic resurgence does not prevent the market recovery,” the group said.
The Spanish government unveiled a 3.75 billion euro ($4.2 billion) stimulus program starting June 15. The program includes 250 million euros to encourage consumers to replace cars older than 10 years with newer models and more energy-efficient vehicles. Bonuses range from 800 euros for gasoline and diesel vehicles to 4,000 euros for zero-emissions vehicles.