In spite of the fact that the Spanish economy is set to take longer to recover than COVID-19 than many of its EU peers, there will be robust growth in demand for premium and luxury cars during the forecast period. Electric cars will continue to grow in popularity, with Tesla leading the way.
During the forecast period, the country’s electric car charging network will mature, with EU Next Generation Funds set to play a significant role in this. Moreover, a growing proportion of Spain’s electricity will be generated by renewable sources (wind and solar), making electric vehicles even more sustainable.
Used car prices continued to soar in Spain during 2022, mainly due to supply-chain issues (principally a shortage of semiconductors), and this trend is set to persist at least during the early part of the forecast period. As a result, premium and luxury cars are becoming more attractive as a relatively liquid investment.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and TeslaSee All of Our Definitions
This report originates from Passport, our Luxury Cars research and analysis database.
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