Registrations in Spain remain 11% in May with a boom in individuals

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The rental channel continues to be affected by the lack of chips as it is the least profitable for manufacturers

There is a correlation between the vehicles that are produced and the vehicles that are registered. However, this is not linear or instantaneous. Although the decline in Spanish production has been piling up for 16 straight months, sales are only about three, as February saw a timid increase of 3.8% — the difference from the previous year was only 3,000 units. Had this not been the case, Spanish records would have fallen in the past 11 months.

However, surpassing the February 2021 figures is not much of a challenge, as it was the first month since historical records are available (1996) in which the private channel was below that of companies and the collapse reached 38.4%.

This channel is the most important for any manufacturer, as it is the channel that generates the most margins in their income statements and in which they have decided to focus their efforts due to the shortage of semiconductors. One of the problems in Spain, especially given the peak in summer demand, is that one of the largest tractors on the market are rental companies.

In May, there were 84,997 registrations, a decrease of 10.9% from the previous year’s data. The Spanish Association of Manufacturers, Anfac, confirms that this data is an optimistic reading, as “the recovery of the channels of individuals and companies stands out”. Both registered numbers in black, with 34,666 (+4.3%) and 32,076 (+3.3%) registrations respectively. Rental companies, for their part, showed a 41.4% decline with 18,235 units.

Added up, there are 318,487 units remaining in the first five months of 2022, 11.5% less than a year ago. Through channels, these were divided into 141,581 registrations for individual customers, the only ones to arrive positively so far, at 2.1% more. The companies left 1.4%, with 136,408 -this near equality with individuals also indicates the doubts of the buyers and the triumph of real estate models such as renting-. Finally, the tenants register exactly half of what they had a year ago: 84,916.

electricity boom

The electrified car is creating a gap in the Spanish market. In May, 7,254 units were registered, 9.7% more than a year ago. This also meant a market share of more than 7%, which, without reaching the level of other European countries, is almost double what was achieved in 2021. So far, the 100% electric and plug-in hybrid models together account for a market share of 10.3% for 32,960 units.

The best-selling electric car in May was the Citroën ë-C4, with 154 registrations. The brand that registered the most units was Hyundai, with 201 registrations in the month.

Source: La Verdad

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