Car sales in the Canaries decline over 16 months to 1980’s figures

Car sales in the Canary Islands have dropped to levels seen in the 1980’s according to figures recently released. In October, private car sales followed a 16 month consecutive drop and fell by 14.2% to 31,195 units. In the frirst ten months of the year car sales  have dropped by 37.3% when compared to last year (2010). The reason for this decline is said to be due to the sluggish economy, low consumer confidence and problems with access to finance. In contrast, business use vehicle sales grew 4.8% percent in October 2011, totalling 23,656 units, and car hire vehicle sales decreased in October by 2,427 units, -0.2%