Toyota gains in Spain on Yaris, hybrid demand

Toyota was Spain's top-selling brand for the second month in a row in November and for the eighth time in 11 months.

The Japanese automaker's 43 percent increase in volume to 7,923 units was underpinned by a 42 percent gain in sales to private customers and a 33 percent gain in fleet sales during the month.

Toyota was No. 1 in what are considered the two "most profitable channels," Dataforce Senior Automotive Analyst Benjamin Kibies said. "The rise is impressive since the brand was in fourth place in Spain a year ago."

Toyota's success helped the overall market rise 9.7 percent to 74,209 vehicles last month. It was the Spanish market's fourth increase in a row.

The models leading Toyota's sales surge were the Yaris Cross small SUV and Yaris small car, with registrations up 95 percent and 515 percent, respectively.

"A year ago, the brand had a blind spot when it came to small SUVs. At the time, medium and compact SUVs made up 85 percent of their sales, while small SUVs only accounted for 7.2 percent," Kibies said. "This year, helped by the arrival of the Yaris Cross, small SUVs account for 29.4 percent of Toyota's sales, helping to balance out its portfolio."

Toyota success in Spain was also underpinned by the market's strong uptake of hybrids, which are the beneficiaries of tax changes.

In Spain, new car buyers must pay a registration tax of at least 4.75 percent of the manufacturer's suggested retail price (MSRP) if the vehicle emits more than 120 grams CO2 per kilometer.

Based on WLTP figures, only 37 percent of the new cars sold in Europe can avoid the tax. However, because of Toyota's large portfolio of hybrids, 76 percent of the vehicles it sells in Europe are below the 120 g/km threshold.

"That means Toyota can sell most of its cars in Spain at a 5 percent discount compared with a non-hybrid from a competitor," Kibies said.

This helped boost the overall share of full-hybrid cars in Spain to 15 percent last month compared with 11.7 percent in November 2021.

Through 11 months hybrids accounted for 17.4 percent of Spain's overall sales, which is the highest percentage of any of Europe's five-largest markets (the others are Germany, the UK, France and Italy).