Sales of passenger cars and SUVs register 81,348 units, 9.9% more than in the same month of 2023
Registrations of light commercial vehicles grew by 14.1% in February, with 12,855 sales
Sales of commercial vehicles, buses, coaches and minibuses increase by 41.3% in the second month with 3,052 units
Madrid, March 1, 2024. The passenger car and SUV market registers a new increase in February, with 9.9% more sales and 81,348 units. The second month continues the growth path driven, mainly, by sales directed to rental companies, which are supplied before Easter at the end of March. In the first two months, 150,033 passenger car sales have already been added, which represents 8.7% more compared to the previous year. In any case, the market still remains below the pre-pandemic figures, which in the accumulated annual figure are 22.8% below.
The average CO2 emissions of passenger cars sold in February remain at 116.5 grams of CO2 per kilometer traveled, 1.88% lower than the average emissions of new passenger cars sold in the same month of 2023. In total of the year, an average of 116.4 grams of CO2 per kilometer traveled is recorded, 1.93% lower
Regarding sales by channels, the strong growth of rent-a-car stands out, as their purchases increase to stock up for Easter. In February, there were 18,015 units, 89.7% more than the previous year. For their part, sales to individuals and companies register different behaviors. While individual purchases increased by 7.2% in February, with 34,787 units, the business channel registered a decline of 10.9% in the second month, with 28,546 sales.
LIGHT COMMERCIAL VEHICLES
Registrations of light commercial vehicles achieved a notable growth of 14.1%, with 12,855 units in February. In the first two months, a total of 23,989 sales were accumulated, which is 15.7% more than the same period of the previous year. By channel, everyone managed to increase their sales, with rental companies being the ones that grew the most, with 25.1% more and 1,699. For their part, sales to self-employed workers increased by 18.7%, with 2,167 units, and business sales increased by 11.2%, with 8,989 sales.
INDUSTRIAL AND BUSES
In February, registrations of commercial vehicles, buses, coaches and minibuses maintained their upward trend with strong growth of 41.3% and 3,052 units. In the accumulated of the year, there are 6,105 units. By type of vehicle, industrial vehicles added 2,659 new registrations, increasing 37.4% in February. As for buses, coaches and minibuses, 393 sales were recorded, which registered a growth of 74.7% compared to the previous year.
STATEMENTS
Félix García, director of communication and marketing at ANFAC, explained that “February continues the path we started in January, a fact that has been favored by having one more market day per leap year. This February has also been a boost for rent a car companies, given that they have made purchases to be able to meet the demand of tourists during Easter, which is celebrated at the end of this month. Our goal continues to be to exceed one million passenger cars sold this year, a figure that has not been surpassed since 2019. This low sales volume has meant that, in 2023, the average age of passenger cars circulating in Spain will continue to grow and reach 14 ,2 years. We need to recover vehicle sales volumes to lower that average age and, at the same time, increase the market share of low and zero emission vehicles, which only account for 5.7% of the entire circulating fleet.”
Raúl Morales, communication director of FACONAUTO, indicated that “the vehicle registrations for the month of February confirm the sluggishness with which the market has begun this year 2024. We saw it in January and it is confirmed now. Few units are being registered and we are comparing this with the start of last year, when there was still this problem of supplying vehicles in the market. However, there are exceptions. And the exception is Galicia because, without a doubt, thanks to its “Renew your vehicle” plan, launched by the Xunta, sales have grown by close to 30%. This means that it has allowed a pent-up demand to emerge that has made its purchase thanks to the aid of this plan. It also means that when public administrations make the right decisions, the market responds since there are many citizens who need to change their vehicle for other, more efficient and safe models.
Ganvam’s communications director, Tania Puche, highlighted that “February continues the upward path and adds 14 consecutive positive months. During the past month, what stands out, above all, is the growth of the rental channel that supplies its fleet to respond to the Easter tourism campaign, which this year is brought forward to March. Let us not forget that, on this occasion, the calendar effect favors us because in February 2024 there is one more day than in the same month of 2023 and furthermore, in February of last year we still had bottlenecks in the supply chain that delayed the vehicle deliveries. In any case, we are still around 20% below pre-pandemic levels. With all the caution at this point in the year, the forecasts we use suggest that in 2024 we will be at the threshold of one million units, in part, because the release of that pent-up demand, which in 2023 allowed us to boost the market to double digits. , is going to lose steam and, due to a question of disposable income, the generation of new orders in the particular channel is going to slow down. Hence, much more effective demand incentive plans are needed, which allow us to overcome the economic barrier and promote the renewal of the park, which is only getting older.”