Portugal: Passenger Car Market 2024

Passenger Car Market Size in Portugal

In 2022, the Portuguese passenger car market was finally on the rise to reach $X after four years of decline. In general, consumption enjoyed a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Passenger Car Production in Portugal

In value terms, passenger car production surged to $X in 2022 estimated in export price. In general, production posted a moderate expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Exports

Exports from Portugal

In 2022, passenger car exports from Portugal expanded notably to X units, with an increase of X% on 2021 figures. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, passenger car exports expanded modestly to $X in 2022. In general, exports continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for passenger car exports from Portugal, accounting for a X% share of total exports. Moreover, passenger car exports to Germany exceeded the volume sent to the second major destination, Italy (X units), twofold. The third position in this ranking was taken by Spain (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Spain (X% per year).

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from Portugal, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by the UK, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average passenger car export price amounted to $X per unit, declining by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Portugal

In 2022, purchases abroad of passenger cars increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, passenger car imports skyrocketed to $X in 2022. In general, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), France (X units) and Spain (X units) were the main suppliers of passenger car imports to Portugal, together accounting for X% of total imports. Belgium, Slovakia, Morocco, South Korea, Italy, the Czech Republic and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and France ($X) constituted the largest passenger car suppliers to Portugal, with a combined X% share of total imports. Belgium, Slovakia, Italy, South Korea, Morocco, the UK and the Czech Republic lagged somewhat behind, together accounting for a further X%.

Morocco, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average passenger car import price amounted to $X per unit, falling by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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