Spain Increases Sales Tax to 21 Percent in Order to Reduce Deficit, Car Sales Plummet by 28 Percent
Cars

Spain Increases Sales Tax to 21 Percent in Order to Reduce Deficit, Car Sales Plummet by 28 Percent



Europe's southern countries, i.e. Spain, Portugal, Italy and Greece, have been hurt the most by the economic crisis that has hit the Old Continent.

In an effort to reduce the public deficit by €65 billion (US$82 billion) by the end of 2014, the Spanish government decided to increase VAT (sales tax) on most items from 18 to 21 percent starting this month.

As a result, car sales in the first two weeks of September tumbled by 27.6 percent to 12,300 units, according to Spain’s car retailers association Ganvam.

Read more »




- Vw Sets New Record With 5.74 Million Sales In 2012, Up 12.7 Percent
In spite of losing ground in Europe, where (excluding Germany) it delivered 844,500 vehicles, 6.9 percent less than in 2011, last year was a great one for the Volkswagen brand as its global sales reached 5.74 million units, an increase of 12.7 percent...

- Skoda Sells Close To Half A Million Vehicles In The First Half Of 2012
Defying the economic crisis in Europe, the Volkswagen Group-controlled Skoda brand reported worldwide sales of 493,000 units in the first six months of the year, an impressive increase of 8.4 percent over the same period in 2011. At the same time, the...

- Nissan's European Sales Drop 16% In April
Nissan today reported 37,980 sales in European sales in April that represents a 16 percent decrease compared to the same month a year ago. Aside from the Qashqai small crossover and the Micra that recorded increases of 21 and 4 percent year on year respectively,...

- Gm’s U.s. Sales Plummet 26.7% In July
As if today’s announcement on the massive $15.5 billion loss in the second quarter of 2008 wasn’t enough bad news, GM also reported today that its vehicle sales dropped 26.7% in July to 235,184. According to GM’s data, July’s...

- Mazda’s European Sales Up By 32 Percent In February
Recording the highest February result in 17 years, Mazda sales across Europe leapt by 32 percent the past month to total 27,300 units, a rise of 6,600 units over February 2007. A total of 20 European countries reported sales increases during the month....



Cars








.