The number of passenger cars in Spain showed fluctuating trends from 2013 to 2023. The data indicates a small but steady growth until 2018, followed by a slight decrease in 2019. A significant drop was seen in 2020, largely due to the COVID-19 pandemic. Post-pandemic recovery was sharp in 2021 with a substantial increase, continuing positively in 2022. In 2023, the volume of passenger cars stood at 24.619 million, marking a near-stable phase compared to the previous year.
Year-on-year variation over the last two years revealed a 5.9% increase in 2022 and a mild 0.59% rise in 2023. The last five-year CAGR (2019-2023) was 0.45%, indicating a slow but positive growth trend.
Forecast data from 2024 to 2028 predicts a steady increase, with an expected 5-year CAGR of 0.49% and an overall growth rate of 2.47% by 2028.
Future trends to watch for include:
- Continued recovery in the automotive sector post-COVID-19
- Impact of government policies on car ownership
- Transition towards electric and hybrid vehicles
