The Spanish used car market
Spain's used car market is vibrant, diverse, and ripe with opportunities for savvy dealers. From bustling urban centers to serene coastal towns, the demand for pre-owned vehicles is growing. This guide delves into current trends and tips for maximizing potential on the Spanish market.
Understanding the current market
Economic factors such as inflation have heightened consumer interest in used cars. In Spain, the used car market increased by 2,7% compared to the first trimester 2023. There are many vehicles available on this market which implies a varied offer from commercial vehicles to city cars.
Since June 2023, the Spanish government put in place an incentive to encourage its population to purchase electrified vehicles. This means that in the next few years, we should see an increase in electrified cars on the second hand market. Moreover, many Spanish cities are subjected to low emission zones, pushing further the need for less polluting vehicles.
The main brands on the market
In the Spanish used car market, several brands stand out because of their popularity, reliability, and strong resale value.
Spanish drivers often favor SEAT, a domestic brand known for its stylish and practical models such as the Ibiza and Leon. They are well-suited to both urban and rural environments. People also regard Volkswagen's models for their engineering and longevity. Models like the Golf and Polo are quite popular.
Renault and Peugeot, both French brands, also enjoy significant market share, appreciated for their affordability and efficient performance.
BMW and Mercedes-Benz are popular among those seeking luxury and performance, with their vehicles maintaining high resale value. These brands' extensive dealership networks and availability of spare parts further enhance their appeal in the used car market.
Additionally, Toyota is the brand who sold the most cars in Spain in 2023. The most sold model is the Dacia Sandero.
How is the offer composed?
Diesel vehicles make up more than half of the overall used car market. A third of the market is dedicated to petrol vehicles. In terms of age, 56,7% of the vehicles are older than 10 years. The used car market is quite old, but we are starting to see the decline of older diesel vehicles in favor of electrified cars.
One third of the used vehicles are equipped with an automatic gearbox.
Spanish vehicles often have equipment to handle heat. You will also find more convertible vehicles and minibuses.
Opportunities for Growth
Study closely the Spanish market, its offer, quality, and the price range. At Arval Trading, your key account manager can help you understand better the market. You can also explore with attention the Spanish lists on MotorTrade. You will be able to judge the overall quality of the vehicles, the options offered, etc…
If you are not yet working with Arval Trading, you can register today.
Talk to your key account manager to have information on the export procedure from Spain to your country of business. Being aware of the transportation time and the delay for documentation will allow you to prepare your finances accordingly.
Invest in electrified vehicles. The shift towards these vehicles presents a significant growth opportunity. Stay ahead of the curve by diversifying your offer and providing education on the subject to your customers.
Conclusion
The Spanish used car market is full of potential for dealerships willing to adapt and innovate.
By understanding market trends, leveraging digital platforms and focusing on customer service, you can position your dealership for success. Embrace the opportunities, invest in your team, and always keep the customer at the center of your strategy.
With the right approach, you can diversify your stock thanks to the Spanish market.
