Spain July car sales drop 50 percent in July-ANFAC

Newswire

* Sales fall on subsidy end, VAT hike * Car group says sales fall will spark lay offs, closures MADRID, July 29 (Reuters) - New car sales in Spain dived nearly 50 percent in July from a year earlier, car makers association ANFAC said on Thursday, as government subsidies ended and after a value-added tax (VAT) hike from July 1. The group has already said it expects car sales to fall by around 30 percent in the second half of the year, after strong sales increases in the first six months ...

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