Spanish market forecast for 2015 (PC + LUV)
- The Spanish car market experienced a drop of more than 50% of its sales volume between 2007 and 2013 going from 1.8 million units to 0.8 million. The end of the scrapping schemes that lasted for ten years and that helped develop the Spanish market to a level never reached in the past, have also increased its fall.
- The new Pive plan (established since 2012) has accelerated the growth of a market that began a reboot in 2013 and continues to grow in 2014 (+20% in 2014 compared to 2013).
- In 2015, growth is expected to be lower (depending on the duration of the Pive plan), and stand around 4% to reach a market of just over one million units. Even if consumer and business confidence has increased (the country is emerging from a recession), economic growth in 2015 will remain under 1% according to various economic institutes.
- The Spanish market will remain highly dependent on the Pive plan as long as the country's economic growth isn't stable and long lasting.
- In 2014, 77% of vehicles sold in Spain are imported from abroad.
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