Car sales rose 9.9% in February and have increased for 14 consecutive months

Passenger car registrations continue to grow month by month, but they are still far from the levels reached in 2019, before the pandemic.

Oliver Thansan
Oliver Thansan
29 February 2024 Thursday 21:26
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Car sales rose 9.9% in February and have increased for 14 consecutive months

Passenger car registrations continue to grow month by month, but they are still far from the levels reached in 2019, before the pandemic. They closed February at 81,348 units, which represents an increase of 9.9% compared to the same time last year and also the fourteenth consecutive month of growth, according to data released this Friday by the associations Anfac, Ganvam and Faconauto.

Two aspects linked to the calendar have contributed to this month's increase. The first is that February has one more day and the second, something more significant, is that vehicle rental companies have begun to stock up somewhat earlier for Easter, which this year is celebrated at the end of March.

In any case, the monthly increase acquires a constant growth, despite the fact that the current volumes are still 21% below those registered in February 2019. A recent Ganvam report predicts that the automotive market, with an increasing presence increasing number of electrified vehicles, will not recover pre-pandemic levels until the end of this decade.

In the first two months of the year, registrations stood at 150,033 units, 8.7% more. Gasoline vehicles account for 37.8%, compared to 10.5% for diesel vehicles and 51.7% for the rest of the categories, among which non-plug-in hybrid vehicles stand out.

If renters have increased the purchase of passenger cars by 89% in February, up to 18,015, companies have purchased 10.9% fewer, up to 28,546. Private individuals, on the other hand, increased registrations by 7.2%, up to 34,787 units.

Business associations predict that registrations will close this year still below one million units. They also warn of the aging of the vehicle fleet, which is now over 14 years old.

In the first two months of the year, the brand with the most sales is Toyota, with 13,700 units, ahead of Seat, Peugeot and Hyundai. On the other hand, the most commercially successful model is the Dacia Sandero, ahead of the Toyota Corolla and the Seat Arona.