Spain 2024. Auto Market Slightly Increasing In January (+7.1%)

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Spanish Autos Market starts off positively in 2024. In January new sales reached 68,685 registrations (+7.1%). Seat closes the gap to market leader Toyota, while BMW booms ranking into 7th spot (+73.2%).

Market Trend and Outlook

Spanish Auto Market in January with 68,685 new registrations, a 7.1% increase from the prior year. The strong momentum is marked by the 13th consecutive monthly growth.

Looking at cumulative data up to January 2024 brand-wise, Toyota maintains 1st with 7,615 sales (+14.8%), followed by Seat -up 1 spot- at 5,073 (+14.7%), Kia -down 1 spot- at 4,594 (-2.2%) and Hyundai -up 3 spots- with 4,121 units sold (+19.0%).

In 5th Peugeot gains 1 spot with 3,811 sales (-4.2%) followed by Dacia -down 2 spots- with 3,780 sales (-10.8%), in front of BMW -up 6 spots- at 3,593 (+73.2%) and Volkswagen -down 3 spots- at 3,405 (-14.8%).

In 9th Mercedes -up 1 spot- at 3,308 sales (+16.6%) and closing the top 10 we have Renault -down 2 spots- falling 2 spot into 9th with 2,937 sales (-14.5%)

Looking at specific models the Dacia Sandero is on top of the rankings with an 1.7% increase in YTD sales, followed by the Citroen Berlingo up 7.0%.

Medium-Term Market Trend

Following 3 years of losses in 2013 the Spanish autos market started recovering, a growth that would last 6 years and would move sales from 744k to a peak of 1.34 million reached in 2018.

In 2019 sales staggered around the 1.3 million mark, but with the arrival of the pandemic in 2020 they fell 34.6% to 852k registrations. This would put the Spanish market in a difficult situation in the following two years.

After the pandemic car passengers sales remained practically flat in 2021 with 859k sales reported (+0.9%). 2022 performed even worse, losing 4.5% in y/y sales.

Spanish Auto Market closes 2023 with 949,232 cumulative new registrations, a 16.7% increase from the prior year. Despite the market had to confront some key issues that put downward pressure on demand: first of all the current European sentiment pushing consumers towards EVs, a substantially more expensive alternative for Spanish consumers; secondly in the last year the global automotive scene has witnessed a disruption in supply chains caused by a lack of raw materials for microchips, the has lead to manufactures to increase overall prices.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers’ Groups, and top 10 Models.

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