European Car Market | Spanish car sales will exceed one million in 2024! Market in-depth analysis by Asiautos Auto Parts(China Car Aftermarket Parts Expert)

Edited by Asiautos Auto Part

In 2024, the Spanish automobile market exceeded the one million sales mark, a year-on-year increase of 7.1%, becoming the first "millionaire market" since the epidemic.

● Brands:

◎ Toyota continues to top the list,

◎ Dacia Sandero becomes the best-selling model of the year with an absolute advantage. 

◎ Chinese brands are still in their infancy in the Spanish market, but models represented by MG have begun to show growth potential. We will deeply analyze the sales pattern, powertrain distribution, and model competition situation of the Spanish auto market in 2024.

01 Market sales overview and brand performance 

● Total sales and powertrain distribution

In 2024, the total sales of new cars in Spain reached 1,016,885 units, a year-on-year increase of 7.1%.

◎ Private car purchases increased by 8.9% to 456,933 units, accounting for 45% of total sales;

◎ Company car purchases decreased by 5.1% to 373,826 units, accounting for 37%; 

◎ The rental market soared by 36.8% to 186,126 units, accounting for 18%. Sales surged by 28.8% in December, partly due to the demand for vehicle replacement after the floods in the Valencia region, where sales in the month increased by 82.8% year-on-year. In the Spanish market, the powertrain ratio is 37.24% for fuel, 9.48% for diesel, 5.64% for pure electric, 5.76% for PHEV (plug-in hybrid electric vehicle), 38.58% for hybrid, and 3.3% for others.

● Brand performance

◎ Toyota: Full-year sales increased by 19.7% year-on-year, ranking first with a market share of 9.4%. Toyota topped the sales list every month except February.

◎ Volkswagen: Sales increased by 4.8%, ranking second, accounting for 6.6%.

◎ SEAT: Local brands performed well, up 11.5% year-on-year, returning to third place.

◎ Hyundai and Renault: ranked fourth and fifth respectively, with growth rates of 10.1% and 14.3% respectively.

◎ Luxury brands and emerging brands: BMW (+29.4%) and Mercedes (+9.5%) continued to grow, while Nissan (+26.5%), Tesla (+26%) and Skoda (+20.4%) also performed well.

● Performance of Chinese brands       

                                                                                                                                                        ◎ MG continued to expand its market, with sales increasing slightly by 2.9%. Its representative model MG ZS entered the top ten. The overall market share of Chinese brands in Spain is still small, but this performance marks the gradual release of its market potential. Among them, MG 4 sold 2,668 units, MG HS sold 1,559 units, and the fuel version of MG ZS sold 19,097 units. 

◎ Several models of BYD, BYD ATTO 3 sold 1,231 units, BYD DOLPHIN sold 1,154 units, and BYD SEAL U plug-in version sold 1,592 units.  

02 Model sales and competition pattern

● Best-selling models list

◎ Dacia Sandero: topped the list with an 18% growth rate and a 3.2% market share, leading the second-place Toyota Corolla by more than 10,000 units, winning the championship nine times throughout the year, consolidating its market position. 

◎ Toyota Corolla: Sales increased by 11.5%, ranking second, with stable performance. 

◎ SEAT Ibiza: Year-on-year growth of 32.3%, ranking third, showing the strong market appeal of local brands.

◎ Hyundai Tucson and MG ZS: ranked fourth and fifth respectively, showing the continued popularity of SUV models in the market. 

◎ Other outstanding models: Renault Clio (+21.7%) and Toyota Yaris Cross (+16%) are quite attractive among consumers, ranking seventh and ninth respectively.

● Competition pattern analysis

The continued popularity of SUV models highlights consumers' preference for versatile and high-performance models, while compact cars such as Dacia Sandero and Toyota Corolla still occupy an important position. 

Toyota has strong competitiveness in the Spanish market with its stable product layout and brand reputation, while the local brand effect of SEAT and the growth of Chinese brands such as MG indicate a diversified trend in future market competition.

Summary

The recovery of the Spanish auto market in 2024 not only reflects the recovery of consumer confidence, but also shows the dynamic evolution of the market landscape. Toyota's leading position, Dacia Sandero's continued dominance, and the popularity of SUV models all reveal the current market consumption trends. The gradual penetration of Chinese brands in this market will add more variables to the future competitive landscape.

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