The number of cars registered in Spain fell 14% in the first half of July compared to the same period a year ago, the Federation of Automotive Dealers said on Thursday.
The result was "much worse than expected" according to the federation, and was mainly due to the end of a stimulus scheme for first car buyers. A total of 34,463 vehicles were registered in the first half of July.
The federation also blamed the fall in registrations to the soccer World Cup, which Spain won, although it expects its effects to be offset in the second half of the month.
Car registrations by individuals totaled 16,511 so far this month, FACONAUTO said, down 38% annually. At the same time, registrations by companies increased 14% to 7,907 and those by rental agencies rose 58% to 10,045.
Registrations decreased all across the country, excepting Castilla La Mancha, Madrid and the Canary Islands. Sharp falls were recorded in Navarra, Asturias, Castile and Leon, Extremadura, Galicia, the Balearic Islands and Cantabria.
Earlier this month, car manufacturers' association ANFAC forecast car registrations in Spain to slump by as much as 30% in the second half of the year. The association blamed the uncertain economic situation, the slowdown in household spending, credit scarcity, high unemployment, and the rise in the VAT rate for its downbeat projection.
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