Industry revenue of “sale of cars and light motor vehicles“ in Portugal 2011-2023
Over the last few years, the automotive industry in Portugal has assumed much importance in terms of the country’s overall economic progress. In fact the total number of new car registrations in the country increased from just 95.3 thousand in 2012 to around 230 thousand in 2018, while revenues from the sale of cars and light motor vehicles doubled from 9.1 billion U.S dollars to 18 billion U.S dollars.
Under-developed automotive manufacturing
Portugal does not have a great legacy in terms of car manufacturing with the four leading brands being joint ventures with other European and Japanese companies such as Toyota, Peugeot, Mitsubishi and Volkswagen. In fact, the number of Toyota and Mitsubishi made cars sold in the country more than doubled during the period 2013-2018. Therefore, despite its growing importance in the overall economic scenario, Portuguese automotive manufacturing still lags behind in terms of GDP contribution when compared to similar sized economies such as Hungary and the Czech Republic.
Under-developed automotive manufacturing
Portugal does not have a great legacy in terms of car manufacturing with the four leading brands being joint ventures with other European and Japanese companies such as Toyota, Peugeot, Mitsubishi and Volkswagen. In fact, the number of Toyota and Mitsubishi made cars sold in the country more than doubled during the period 2013-2018. Therefore, despite its growing importance in the overall economic scenario, Portuguese automotive manufacturing still lags behind in terms of GDP contribution when compared to similar sized economies such as Hungary and the Czech Republic.
