Spain: Passenger Car Market 2024

Passenger Car Market Size in Spain

The Spanish passenger car market skyrocketed to $X in 2021, growing by 76% against the previous year. Overall, consumption posted noticeable growth. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Passenger Car Production in Spain

In value terms, passenger car production shrank to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from Spain

Passenger car exports from Spain dropped to X units in 2021, with a decrease of -7.8% compared with 2020. Overall, total exports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +97.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 114%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, passenger car exports declined to $X in 2021. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units), Germany (X units) and France (X units) were the main destinations of passenger car exports from Spain.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +76.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car exported from Spain were France ($X), Germany ($X) and Italy ($X), with a combined 52% share of total exports. These countries were followed by the UK, Belgium, Portugal, Poland and the Netherlands, which together accounted for a further 22%.

Among the main countries of destination, Poland, with a CAGR of +13.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, rising by 7.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 50%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-17.8%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Spain

For the fourth consecutive year, Spain recorded growth in overseas purchases of passenger cars, which increased by 35% to X units in 2021. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 251%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, passenger car imports rose sharply to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.0% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 32%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) was the main passenger car supplier to Spain, with a 463% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), twofold. The Czech Republic (X units) ranked third in terms of total imports with an 188% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +49.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+39.7% per year) and the Czech Republic (+60.8% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Spain, comprising 29% of total imports. The second position in the ranking was held by France ($X), with a 10% share of total imports. It was followed by the Czech Republic, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.2% per year) and the Czech Republic (+12.3% per year).

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, which is down by -18.6% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2017 an increase of 277%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-9.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :