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

New vehicle registrations jumped by 42.7pc to 117,929 units in July compared with the prior month, according to Asociación Española de Fabricantes de Automóviles y Camiones (ANFAC) data.


Anfac’s Director of Communication, Noemi Navas, reassured members on Monday that July’s positive vehicle registration numbers “reflect the very relevant momentum of the [government’s] 2020 renewal plan (Plan Renove).”


Navas added that July sales figures had shown strong growth in response to government scrappage schemes and the reduction in Value Added Tax (VAT), resulting in 90pc of the industry’s 150,000 employees returning to work and factory utilization rates exceeding 85pc.


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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