Leap in EV sales in Spain after rush of orders to beat grant application deadline

September 13, 2016

Registrations of hybrids and electric vehicles in Spain have leapt during 2016 as drivers took advantage of a government-backed incentive scheme before it ended. The Programa de Incentivos al Vehículo Eficiente (PIVE) was closed at the end of July, with final orders being converted into registrations throughout August. Hybrid vehicle registrations were up 70.79% in the first eight months of the year, with 19,234 units registered. Year-on-year electric vehicle registrations grew 98.25% to 2,942 units up to the end of August. However, the healthy order intake will inevitably diminish with the end of the scheme and there will be parallels with the Netherlands, which saw a leap in car sales before the end of government tax breaks, followed by substantial falls in market demand after it ended. With the Spanish car market still enjoying strong growth as part of the economic recovery, the decline is likely to be less severe, but Autovista Intelligence estimates sales of new cars could still drop by up to 5% during Q4, 2016. Nevertheless, even in this scenario, car sales for the whole of 2016 would still be 7% higher than in 2015.

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UPDATE: News & Insights have moved to the Autovista Group website

March 31, 2017

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