Spanish market Forecast for 2016 (PC+LUV)
- For the first nine months of 2015, the Spanish automobile market has increased by 24%. The market may reach 1.2 million units this year and 1.3 million in 2016. However, it is still far from the figures for 2005-2006-2007 where the market was close to 1.8 million units.
- According to OECD, a robust economic recovery in Spain is planned to continue in 2016 and 2017, though at a gradually slowing pace. However the positive impact of euro depreciation, and lower oil and other commodity prices, will gradually dissipate. Borrowing rates for businesses and households will also continue to be low. These factors, together with the implementation of significant structural reforms, are increasing business confidence.
- For 2016, the Spanish automotive market will depend on the PIVE plan status (to be maintained or not), and its stopping date if UK government decides to stop it. In the case that the PIVE plan is stopped, Inovev forecasts a 7% increase of the market in 2016.
- Following new models, to be launched in 2016 and which can stimulate the Spanish market during the year, are worthy to mention : Ford Fiesta, Opel Astra (launched at the end of 2015), Renault Megane (locally produced), VW Polo (locally produced) and Seat Ibiza (locally produced).
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