Car sales drop in Canary Islands by 23% (YTD)
Car sales in the Canary Islands have experienced a drop in 23.06% so far this year. During August alone, the drop was of 16.2%. Nationally, car sales reached 48,820 units in the whole of Spain which is an increase of 3.4% over the same month last year. Passenger car registrations fell by 16.2% in August in Canary community so far this year has accumulated a fall of 23.06%. It is estimated that the increase in sales, over 10,000 units, is due to people purchasing vehicles before the increase in tax from 18% to 21%.
Figures for the Canary Islands are as follows:
August 2012 sales = 1,752
August 2011 sales = 2,090
Variation = -16,17%
YTD 2012 = 16,168
YTD 2011 = 21,013
Varation = -23,06%
Can anybody be surprised? The economy in the Canaries is taking a beating because the holiday makers are paying up front for all-in holidays and the bars and restaurants are suffering, followed by their suppliers, and the knock on continues. When will the cabildos realise that All-inclusive packages are killing the economy. There is no money circulating so everyone suffers, even the Haciendas as there are no earnings to tax. We need flight only, self catering customers, with money in their pockets to rebuild the foundations of tourism here.
Good news, considering the Canaries have a car density 3 times that of Germany. Downright insane