Spain is set to continue to suffer from high inflation and high interest rates into the forecast period, and along with this, shrinking disposable incomes. Nevertheless, the number of wealthy Spaniards (HNWIs and ultra HNWIs) is also set to grow, and these consumers are more resilient in the face of economic downturn.
Since the COVID-19 pandemic, the attitude that one should enjoy life and indulge oneself when this is possible keeps gaining ground. As a result, many Spanish consumers, Gen X in particular, are not postponing the purchase of products they have always wanted to acquire.
Wealthy Spaniards are increasingly looking for collectible cars as a treat, but also as an investment. Restomod (restoration and modification of classics) is growing in popularity.
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Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium and Luxury Cars industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See all of our definitionsThis report originates from Passport, our Premium and Luxury Cars research and analysis database.
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