Spain. In 2019 the market signed the first decline since 2012, losing 2.4%

Spanish autos market

Spanish autos market in the 2019 has reported a moderate decline ending a series of six consecutive growing years. Indeed, Total sales have been 1.302.951, down 2.4%, signing the first year-on-year decline since 2012. The three top manufacturers control almost 60% of the market.

Economic Environment

Spanish GDP data showed that the economy has been growing slower than initially estimated, with Q2 growth revised down to a three-year low. Nonetheless, the pace of expansion remained solid and available figures underline sustained momentum in Q3. Industrial production growth held broadly in line with Q2’s average in July–August, despite the manufacturing PMI remaining in contraction territory throughout Q3.
Moreover, retail sales rose strongly in July and August, which, coupled with solid employment growth in both months, hints at some improvement in household expenditure. That said, the sharp slowdown in job gains in September might have weighed on spending somewhat. In politics, polls indicate that the 10 November election will produce another fragmented Parliament, in which the possibility a third election is not off the table

Market Trend

Spanish vehicles market is recovering year-after-year since the tremendous fall reported after the 2009 crisis, when volume dropped by over the half. The government have sustained the recovery of the industry, crucial for a market that is the second major auto producer in Europe, with an incentive plan called PIVE, which sustain the scrap of old vehicles when purchasing a new one.

The program has been modulated across the years becoming a stable sustain to the domestic market and in the last six years it grew up from less than 0.7 million cars in 2012 to over 1.3 million registered in the 2018.

Indeed, in the 2018 the industry was reported up for the 6th year in a row with the best annual score in this decade, confirming the fast recovery of the country after the huge crisis of few year ago. According to data released by the Minister of Transportation, the year ended with 1.33 million sales, up 7.2%, the third best results ever and the best since 2007.

As far as engine mix, the development of new energy engine is rapid but still at marginal level, with Electric Vehicles sales at 11.814 units in the year (+62.9%) while gasoline sales surged at 63% of the market (vs 51% in the 2017) to 840.114 units (+32.3%) and diesels sales fall 19.6% to 482.157.

In the 2019 the market started slow declining for all the first eight month before to finally be positive for three consecutive months. However, the year ended with Total sales at 1.302.951, down 2.4%, signing the first year-on-year decline since 2012.

The market is one of the less concentrated in the World with the Top 10 brands holding only 63.1% of the market and the current leader, Peugeot with 8.7% just 3k units ahead of the second, Seat. Different is the view looking the share at Group level, with the top three, Volkswagen, PSA and RenaultNissan holding almost 60% of the market.

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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