Car Prices and Sales Trends in Spain (2018-2023)

Posted on Feb 11, 2025 in Mathematics

Car Price Increases: 2018 vs. 2023

Here, we can see a bar chart comparing the prices of different car models in the years 2018 and 2023. The car models included are Hyundai Tucson, Opel Corsa, Volkswagen Tiguan, Ford Kuga, Dacia Sandero, and Peugeot 208. There are more car brands and models, but this small selection is enough to show the price trend. The green bars represent prices in 2018, and the blue bars represent prices in 2023.

Price Increase Calculation Example: Volkswagen Tiguan

Let’s take the prices of the “Volkswagen Tiguan” and “Peugeot 208” models and see how much the price has increased in percentage. If we take as a reference the price of the Tiguan of the year 2018, 25,000 euros, and we give it the value of 1, when we compare it with the same model of the year 2023, 37,000€, there is a difference of €12,000.

2018: 25,000 —-> 1
2023: 37,000 —-> X?
X = (37,000 * 1) / 25,000 = 1.48 * 100 = 148%

We can see that the increase is 1.48 (or 48% increase). From 2018 to 2023, this model of car has experienced a price increase of 48%.

Price Increase Calculation: Peugeot 208

For the Peugeot 208 model, the calculations are similar, resulting in 1.60, i.e., an increase of 60%.

We can do the same with the other car models to see the price increases.

Reasons for Car Price Increases

Why this price increase in cars? There is no single answer, and the issue is complex:

  • The European Union demands better safety systems from car brands.
  • Brands incorporate new technologies that increase the price.
  • Companies such as Uber, Cabify, and Bolt buy fleets of vehicles, making the sale of cars to private individuals more expensive.

These are some reasons for the rise in car prices.

Market Share of Different Car Types (2023-2024)

Here is a pie chart showing the market share in 2023 and early 2024 of different types of cars. The segments in the chart are as follows:

  • Alternative energy cars, at 41.6%, is the largest segment. This category includes:
    • Compressed Natural Gas (CNG)
    • Liquefied Natural Gas (LNG)
    • Liquefied Petroleum Gas (LPG)
  • Gasoline cars, with 36.3%, is the second most important segment.
  • Diesel cars have a share of 11.5%. After “dieselgate,” sales are down.
  • Electric vehicles have a 5.8% share.
  • “Electric cars” have a share of 4.8%. They have a low market share because they have not been on the market that long, and prices are not accessible to all.

Vehicle Sales in Spain (2018-2023)

Here we have a graph with vehicle sales in Spain from 2018 to 2023. The graph shows us that in 2018, more than 1.3 million cars were sold. 2019 suffered a slight decline, reaching more than 1.2 million units sold. But there was a big drop in sales in 2020; this may be due to the worldwide COVID-19 pandemic, followed by a slight increase in the following years but without again exceeding even 1 million units sold as in past years. Another reason why not as many new cars are being sold as before is that while new car sales are falling, used car sales are rising.