Passenger car ownership in Spain stood at 530 units per 1,000 inhabitants in 2023. Based on forecasts, car ownership is projected to gradually increase, reaching 533 units in 2024, 536 in 2025, 538 in 2026, 541 in 2027, and 543 in 2028. Year-on-year variations are as follows:
- 2024-2025: +0.56%
- 2025-2026: +0.37%
- 2026-2027: +0.56%
- 2027-2028: +0.37%
The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is 0.49% per year.
Future trends to watch for include the uptake of electric vehicles, government policies on emissions, and shifts in consumer preferences, which could impact car ownership levels in Spain. Additionally, developments in urban mobility solutions and alternative transportation methods may play a significant role in shaping future car ownership trends.
