Spain: Passenger Car Market 2024

Passenger Car Market Size in Spain

In 2023, the Spanish passenger car market increased by X% to $X, rising for the third consecutive year after three years of decline. Over the period under review, consumption, however, recorded a strong increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Passenger Car Production in Spain

In value terms, passenger car production shrank slightly to $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Passenger Car Exports

Exports from Spain

In 2023, shipments abroad of passenger cars increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, passenger car exports surged to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X units), Germany (X units) and Italy (X units) were the main destinations of passenger car exports from Spain, together accounting for X% of total exports. The UK, Turkey, Belgium, Mexico, Portugal, Poland, Austria and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) constituted the largest markets for passenger car exported from Spain worldwide, together comprising X% of total exports. The UK, Turkey, Belgium, Portugal, Poland, Austria, the Netherlands and Mexico lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average passenger car export price amounted to $X per unit, growing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Spain

In 2023, purchases abroad of passenger cars increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2023 and are likely to see gradual growth in years to come.

In value terms, passenger car imports skyrocketed to $X in 2023. Overall, total imports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and France (X units) were the main suppliers of passenger car imports to Spain, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and France ($X) constituted the largest passenger car suppliers to Spain, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average passenger car import price amounted to $X per unit, surging by X% against the previous year. In general, the import price, however, saw a pronounced shrinkage. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform