Driving up prices: Cost of new and used cars in Spain shoots up
New passenger vehicles in Spain are 4% more expensive than this time last year
Since the cost of pretty much every consumer product has skyrocketed in Spain in the last twelve months or so, it comes as no surprise that vehicles – both new and second-hand – have also soared in price. Today, buying a standard car will set motorists back between 20,000 and 24,000 euros, while the cost of the very popular Compact SUV has risen to more than 33,000.
To be fair, cars, vans, jeeps and motorcycles have been going up in price for a few years now and all the data indicate that this costly trend will continue for the foreseeable future.
According to the latest report from the Consumer Price Index of the National Statistics Institute, new cars became 4% more expensive in August 2023 compared to the same month of 2022, and when we look at the monthly evolution of prices, all passenger vehicles increased by 0.8% between July and August.
The news is even worse with second-hand cars, whose prices soared by 14.3% over the last 12 months, but only increased by 0.3% in August compared to July.
The same goes for motorcycles, which became on average 4% more expensive last month. In Spain, motorbikes are generally cheaper than cars and interestingly, the best-selling models tend to be among the best value.
Most urban scooters cost around 5,000 euros, according to the experts, although of course there are cheaper and more expensive models on the market.
On the other hand, the average price of used motorcycles this year has risen to 6,590 euros, with many drivers opting to purchase larger second-hand vehicles.
And sadly, the costs don’t stop once the new vehicle is driven away from the dealership and in recent months, many spare parts have also skyrocketed. Tyres, for instance, rose in price by 8% in August compared to the same period last year, while vehicle maintenance and repair services have increased their prices by 6.4%.
Find all the latest motoring and travel news here or join our Driving in Spain Facebook page for regular updates
Image: Freepik
Sign up for the Spanish News Today Editors Roundup Weekly Bulletin and get an email with all the week’s news straight to your inbox
Special offer: Subscribe now for 25% off (36.95 euros for 48 Bulletins)
OR
you can sign up to our FREE weekly roundup!
Read some of our recent bulletins:
25% Discount Special Offer subscription:
36.95€ for 48 Editor’s Weekly News Roundup bulletins!
Please CLICK THE BUTTON to subscribe.
(List price 3 months 12 Bulletins)
Read more stories from around Spain:
