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Spain’s Commercial Vehicle Market: March 2024 Registrations Showcase Resilient Growth

Spanish LCV Pandemic

As the first quarter of 2024 progresses, Spain’s commercial vehicle market continues to exhibit resilience and growth, albeit with some fluctuations across different segments according to the latest report from ANFAC.

Navigating Regional Trends and Brand Dynamics Amidst Fluctuating Market Conditions

In March, registrations of light commercial vehicles (LCVs) reached 13,876 units in the latest ANFAC report, reflecting a modest year-on-year growth of 3.3%. Year-to-date registrations stood at 37,866 units, marking a notable 10.9% increase compared to the same period last year. Among the regions, Madrid led the registrations with 7,069 units, while Catalonia followed with 1,446 units.

March saw 2,211 registrations of heavy vehicles over 16 tonnes, representing a 3.9% year-on-year growth. Year-to-date registrations for this segment amounted to 6,811 units, showing a 16.6% increase compared to the previous year. However, there were some regional disparities in March’s registrations. Madrid recorded 533 units, experiencing a 17% year-on-year decrease, while Catalonia witnessed a 10% increase with 428 units registered.

The bus segment reported 389 registrations in March, marking a 14.1% decline compared to the same period last year. Despite this monthly setback, year-to-date registrations showed a positive trajectory with 1,061 units, reflecting a 9.5% increase over 2023.

Mercedes emerged as the most popular brand in the bus segment, with 120 units registered, closely followed by MAN with 70 units.

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