Spanish Autos Market in October 2023 surges 18.0%, posting 77,848 new sales and rising for the 10th month in a row. YTD figures at 789,388 are up 18.5% from the prior year.
Market Trend and Outlook
The Spanish Autos market in October 2023 surges 18.5%, posting 77,848 new sales and rising for the 10th month in a row. YTD figures at 789,288 are up 18.5% from the previous year.
Looking at cumulative data up to October 2023 brand-wise, Toyota maintains 1st with 66,775 sales (+11.0%), followed by Kia at 55,514 (+6.2%), Volkswagen at 53,161 (+7.9%) and Peugeot -up 1 spot- at 51,485 sales (+10.3%).
Seat rises 1 spot into 5th position with 49,890 sales (+19.1%), in front of Hyundai at 47,813 (-4.7%), Renault at 46,042 (+31.9%) and Dacia at 39,310 sales (+28.2%).
Citroen falls 2 spots into 9th with 36,762 sales (+3.3%) and Mercedes closes the Top 10 with 35,485 registrations (+18.0%).
Looking at specific models the Seat Arona is on top of the rankings with an 28.6% increase in YTD sales, followed by the Peugeot 2008 up 30.0%.
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.
Despite posting a strong start in 2023, growing more than 50% just in January, the market will have 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.