Spanish auto dealers cutting payroll as sales slide continues.
MADRID – Dealers franchised by Spanish auto makers registered an average 0.6% loss in net income in 2012, twice the size of the preceding year’s negative result. A survey by Snap-On Business Solutions conducted for GANVAM, the Spanish association of auto dealers, repairers and vendors, shows marked improvement in fourth-quarter 2012, the most recent period studied. This was influenced by a scrappage plan that granted €2,000 ($2,600) to people buying a new or used car up ...
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