Portugal 2024. Auto Market Slightly Grew In January (+7.5%)

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Portuguese Auto Market starts off positively in 2024. New sales throughout January totalled 15,737 units (+7.5%). Kia booms 95.4% ranking in 9th place.

Market Trend and Outlook

The Portuguese Auto Market in January maintained the momentum gained in the last months, growing for the 19th month in a row with 15,737 new car sales (+7.5%).

Looking at cumulative data from 2024 brand-wise, the leader remained Peugeot with 2,086 sales (+56.5%), followed by Dacia -up 1 spot- in 2nd with 1,297 registrations (+17.6%) and Mercedes -up 1 spot- with 1,191 units sold (+14.2%).

Toyota gained 2 spots ranking in 4th with 1,075 sales (+24.7%) followed by BMW at 974 (-4.4%), Citroen -up 1 spot- at 930 (+16.5%) and Renault -down 5 spots- with 845 total sales (-27.0%).

Nissan grew 5 spots into 8th with 676 sales (+33.9%), followed by Kia -up 7 spots- with 641 units sold (+95.4%) and Opel -down 1 spot- closed the top 10 with 609 sales (-14.1%).

Looking at specific models the Peugeot 2008 sold the most units, rising 115.7% from 2022. The second most sold car was the Dacia Sandero with a +129.3% in year-on-year volume.

Medium-Term Market Trend

The Portuguese auto market has had many ups and downs in the last decade. Sales fell more than 50% from 2010 to 2012, starting at 274,559 and ending at 106,748. From 2013 to 2017 the car passenger market inverted its trend, more than doubling and reaching 248,039 new car registrations. The years 2018 and 2019 were slightly negative taking sales down to 231,492 by the end of 2019.

The arrival of the pandemic in 2020 caused the market to fall 37% taking it back down to 145,417 sales.

Following the collapse of the market during the pandemic, 2021 presented a year of slight recovery with sales reaching 146,706 (+1%) and 2022 grew another 6.6% to 156,309. A combination of factors are behind the lower demand in the past years: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs.

The Portuguese Auto Market in 2023 reached a total of 199,572, an increase of 27.7% in year to year sales.

Tables with sales figures

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

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