Spain: Car Sales Fall 11% In The First Half Of The Year

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Last July 73,378 passenger cars and SUVs were registered in Spain, down 12.5% on the previous year and making it the worst July since 2012. Year-to-date sales are down 11% with a total of 481,135 units registered in 2022. Toyota, with 43,684 deliveries, leads the market.

The new car registrations market in Spain is still in free fall and shows no signs of improving. In July, 73,378 passenger cars and SUVs were registered in our country, which is 12.5% less than in the same month of the previous year and means returning to levels of the Spanish economic crisis (2008-2014). In fact, this July is already the worst since July 2012, when only 65,322 units were sold and it was considered the worst July in three decades for vehicle sales.

The fall in car sales in July is mainly due to economic uncertainty (stemming from rising inflation and prices) and the shortage of semiconductors, which continues to weigh on vehicle arrivals at dealerships. Up to July, sales of passenger cars and SUVs accumulated a drop of 11% compared to the same period last year, with a total of 481,135 units registered.

2012 was the worst year for new car sales since 1989 with less than 700,000 units registered. The sector’s associations hope to reach at least 800,000 this year, although the last half of 2022 looks rather complicated and the announced recovery of the market looks increasingly distant.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.