Residents spend 44.3m euros on new cars

CAR dealers in the Balearics had a turnover of 44.3 million euros in new cars last month, an increase of 6.6 per cent compared to the same month last year, according to figures provided by the Traffic Authorities. the report says that Balearic residents spent an average of 17'255 euros on a new car last month, slightly less (-1.1 per cent) compared to November 2005.
Spaniards as a whole spent an average of 19'629 euros on a new car last month, down by nearly six per cent compared to November 2005.
THIRD DROP
This was the third consecutive drop in price in Spain this year.
However, over the first 11 months of the year, the average price of a new car was 20'757 euros, 1.3 per cent more than the same period last year.
A spokesman for the sector attributed the drop in price to the fact that drivers are opting for smaller, less powerful vehicles.
He added that there has been a structural change in demand over the past three months, as up to September, Spanish buyers favoured bigger cars.
The Balearics continue to have the highest number of cars on the road in proportion to the number of inhabitants.