Portugal cars market in 2015 up 25% in the best year out of last five. Renault led with a wide gap over Volkswagen and Peugeot. Future perspectives are now uncertain with stagnate economy and a new government in place.
A contraction in domestic demand caused the Portuguese economy to stagnate in Q3. The poor result ended a series of five consecutive quarters of growth and casts doubts on the strength of the economy. Meanwhile, after several months of political turmoil following the general elections on 4 October, the situation finally settled down when conservative President Aníbal Cavaco Silva decided to nominate Socialist Party’s (PS) leader António Costa as Prime Minister on 26 November.
Costa formed a minority left-wing government led by the PS together with the Left Bloc, the Communist Party and the Greens, which appears to be sustainable. Despite being dubbed an “anti-austerity government”, Costa reassured external creditors and international institutions that respecting obligations to Portugal’s creditors is of the highest priority.
Markets have proven confident in Costa’s statements as borrowing costs have remained stable since the new government was formed. It remains to be seen how Costa will balance his electoral promises with the 2016 budget, which is expected in the coming weeks.
Strong sales in the fourth quarter ended a long positive period for the Portuguese market with a year on year winning series started in June 2013 and now counting 30 consecutive months.
According to data released by the A.C.A.P., the Portuguese Association of Car Producers, in the last three months of the year sales had been 40.175, up 13.1% from the correspondent period last year and the final 2015 figures have been 178.430, up 24.9%, a robust recovery from the already positive 2014.
The 2015 has been the best sales year out of the last five thanks to the fast economic recovery: However, new winds form political and economic area do not sustain large expectations on the next future as the just appointed new government could change the so far successful economic policy while the Q3 2015 GDP growth was already disappointing.
At the end of the year the market leader was again Renault, confirmed the 2014 leadership, with 20.447 sales (+25.3%) and 11.5% of market share. In second arrived Volkswagen with 16.900 sales (+21.8%) ahead of Peugeot with 15.752 units (+25.8%), Mercedes, up 1 spot, with 13.514 (+32.3%), BMW, down 1 spot, with 12.889 (+21.4%), Nissan, up 2 spots, with 10.668 (+44.2%), Opel with 10.036 (+19.3%) and Audi with 9.453 (18.8%).
Looking at the performance for groups, Volkswagen was again on top with 20.5% of market share, followed by Renault-Nissan with 20.0%, P.S.A. with 14.2% and Mercedes Daimler with 9.0%.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Models.