Spain’s car sales outlook is improving, boosted by rising demand of higher-priced vehicles, top dealers’ federation Faconauto announced on Tuesday.
Go deeper with GlobalData
The group, which represents 3,000 dealers, said sales would fall 1.7% to 1,501,875 cars in 2006, down from a previously estimated 2.5% decline, which was later revised to 2.1%.
In May, Spaniards spent an average of EUR21,730 per car, up 3.4% from the prior-year month, Faconauto said, adding that drivers bought cars that were 0.9% bigger and 2.7% more powerful.
Despite soaring petrol prices, car engines improved fuel consumption by 1.5% to 16.9km per litre, Faconauto noted.
The federation acknowledged that the numbers were slightly illogical, given high petrol prices and rising interest rates in Spain.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThese factors “could have a [negative] effect in sales in the near term,” it warned.
May vehicle registrations (including sedans and SUVs) rose 1.8% to 153,463 units last month, Faconauto added, highlighting a 17% jump in SUV sales to 12,048 units.
Ivan Castano
