Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Spanish new passenger car registrations declined by 43.2pc to 66,925 units in August compared with the prior month, according to data released by Asociación Española de Fabricantes de Automóviles y Camiones (ANFAC) on September 1.


ANFAC’s Director of Communication, Noemi Navas, commented that “the weakness of the market in August may respond to the fact that the holiday period is always less dynamic in sales” with pent up demand also running out of steam.


However, with the exception of 2020’s new car registrations, Davis Index calculates that there is a relatively limited, if any, seasonal impact on Spanish new vehicle sales in and around August for the past four years.


Navas added that the automotive industry will have to wait until September-end because “the Renove plan still has many available resources and sufficient funds to pull demand until the end of the year.”


Plan Renove 2020 forms part of a wider €3.75bn ($4.2bn) stimulus program for the country’s automotive sector announced in mid-June, designed to mitigate the impact of COVID-19 and boost sales of low-emission vehicles.

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