Car sales down

[NewsWhore]

The Association of Automobile Concessionaires (Acofave) says that new car sales during May and June were among the lowest in recent years. Enrique Fernandez, executive director of the organization, says that people are opting instead to buy used cars. According to Customs Department (DGA) statistics, new car imports totaled 28% of total vehicle imports. Fernandez attributed the decline in sales to rising intereset rates. He said financing of vehicles jumped from 15 to 25% after the May election.

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