Spanish sales roused by low interest rates, switch to euro.

Automotive News Europe,  December, 2001  by Hayley, Julia

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MADRID - New-car sales in Spain have surged in recent months as low interest rates and a certain amount of money laundering ahead of the switch to the euro offset the country's economic slowdown.

Spanish sales rose 3.5 percent in the first 11 months of the year and will probably beat forecasts for 2001 as a whole. But carmakers expect a reversal next year.

Spain's year-on-year rise in October was 11.7 percent, easing to a more usual 4.1 percent in November, according to figures from ACEA, the European automakers' association.

ANFAC, the Spanish car manufacturers' group, is ...

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