Spaniards bought fewer new cars in 2020 than the previous year, falling to approximately 851 thousand units sold. This represents a decrease of 32.3 percent in comparison to 2019, thus demonstrating that auto purchases are more than a means of transport, but also an economic indicator.
Seat: the Spanish leader
Spanish auto maker Seat controls roughly a twelfth of the passenger car market there, making them one of the leading passenger car brands in that country. The demand for second-hand passenger vehicles is only slightly higher than that of that for new cars, indicating that many Spanish drivers are willing to purchase something fresh off the assembly line.
Car purchases: an economic indicator
A car is a big-ticket item, and many analysts use this as an indicator of consumer confidence. New car registrations go down as the unemployment rate goes up. In fact, economists use items such as new cars to calculate the consumer confidence index, a measure of how normal people feel about the economy at a given time. When this index drops, it means that the demand side of the economy is pessimistic, which often leads to a recession. As for Europe, the industry has been experiencing a shift in consumer behavior when purchasing a car. Sales of diesel models have been recording a downtrend since 2013 in all European countries, whereas hybrid and electric cars are still trying to find their way into the European market
Passenger cars registered in Spain from 2005 to 2020
(in 1,000 units)
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ANFAC. (January 4, 2021). Passenger cars registered in Spain from 2005 to 2020 (in 1,000 units) [Graph]. In Statista. Retrieved September 27, 2022, from https://www.statista.com/statistics/417367/spain-new-passenger-car-registrations/
ANFAC. "Passenger cars registered in Spain from 2005 to 2020 (in 1,000 units)." Chart. January 4, 2021. Statista. Accessed September 27, 2022. https://www.statista.com/statistics/417367/spain-new-passenger-car-registrations/
ANFAC. (2021). Passenger cars registered in Spain from 2005 to 2020 (in 1,000 units). Statista. Statista Inc.. Accessed: September 27, 2022. https://www.statista.com/statistics/417367/spain-new-passenger-car-registrations/
ANFAC. "Passenger Cars Registered in Spain from 2005 to 2020 (in 1,000 Units)." Statista, Statista Inc., 4 Jan 2021, https://www.statista.com/statistics/417367/spain-new-passenger-car-registrations/
ANFAC, Passenger cars registered in Spain from 2005 to 2020 (in 1,000 units) Statista, https://www.statista.com/statistics/417367/spain-new-passenger-car-registrations/ (last visited September 27, 2022)