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Spain's used-car market is experiencing a significant surge, with transactions increasing by 15% year on year in October, according to recent data. This growth comes as Spain currently boasts one of the oldest car parks in Europe, making the rise in younger vehicles all the more noteworthy.
The trend towards younger used cars is particularly evident in the supply of vehicles between one and three years old, which has increased significantly in Spain's market over the past year. This shift is discussed in depth by Ana Azofra, Autovista Group's regional head of valuations for Southwest Europe and Poland, in a new podcast episode.
The MOVES III package, a popular initiative in Spain, covers not only new models but also young used ones up to 12 months old. This initiative, along with incentive programs for plug-in hybrid vehicles (PHEVs) and battery-electric vehicles (BEVs), has contributed to the increased demand for PHEVs in Spain.
In fact, Spain has become a strong sales destination for PHEVs, with imports increasing by an estimated 30% in 2023 and further accelerating this year. The market for PHEVs in Spain experienced a strong growth of about 94.5% in the first seven months of 2025, while BEVs also saw significant growth, although specific percentage data is not available.
Despite a more negative performance in Spain, the decline in PHEVs is less pronounced than in other European markets. The active-market volume index used to track supply has more than doubled compared to 12 months ago, reflecting the increased availability of PHEVs in Spain.
However, the average residual value of PHEVs in Spain is expected to continue to drop due to the advancement of the technology. On the other hand, BEVs are expected to see a continued downward price adjustment trend, potentially accelerating due to fleet offloads and CAFE regulations.
For every new-car registration in Spain, there are now 2.1 used-car transactions, indicating a strong preference for used vehicles. Vehicles over 10 years of age now make up 50% of used-car sales in Spain, underscoring the shift towards older vehicles in the market.
The most significant metric in the Spanish used-car market is the composition of models sold, including the available technology and vehicle age. Full hybrid (HEV) powertrains are in high demand in Spain's used-car market, mirroring a trend in the new-car market.
The Autovista24 podcast, available on Spotify, Apple, and Amazon Music, provides insightful discussions on these trends and more, making it a valuable resource for anyone interested in the Spanish used-car market. The podcast's latest episode, featuring Ana Azofra, delves deep into the current trends and forecasts for the future of the market.
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