May car sales down 24 percent
Tuesday, June 3, 2008 @ 5:55 PM
The slow down in the Spanish economy doesn't just impact the housing sector, car sales in Spain dived by 24% in May compared to the same month last year, further evidence that the Spanish economy is cooling faster than expected.
Apart from the high cost of fuel in Spain now (diesel is now more expensive than petrol) the reasons for the fall in car sales can be attributed to an increase in unemployment, the difficulty in getting finance and high interest rates.