Sales of luxury cars skyrocket in Portugal

If Portugal is mired in economic crisis with families being squeezed by inflation at nearly 10% and mortgage payments up because of higher interest rates, you’d never guess it if you looked at the luxury car sales figures for 2022.

Sales of luxury cars were up 22% with all sport cars enjoying an increase, with two brands seeing three-digit growth.
Sales of Ferrari cars grew 26.1% on 2021 with 29 cars sold in 2022. Lamborghini was slightly behind with just 14 cars sold in Portugal. Nevertheless, it sold more cars than in 2021 (+7.7%).
The British luxury brand Bentley exceeded these numbers from competitors by selling 63 cars in 2022 (+142.3%).
Aston Martin (also based in the UK) delivered 40 cars to Portugal (+17.6%) on 2021.
When it comes to non-luxury family cars, Peugeot was once again the best-selling band in Portugal for the second year running in 2022, after 23 years in which car sales had been dominated by Renault up until 2020.
The French brand sold a total of 20,860 vehicles in 2022 (-9% on 2021). Renault sold 16,000 (-23%) and Mercedes-Benz sold 13,300 (+6%), according to data from the Automobile Association of Portugal. (ACAP)
Citroen sold 11,500 vehicle (-3.6%), while Toyota sold 11,200 vehicles (+8.8%). Maserati jumped n sales by a massive 228% selling 82 vehicles, followed by Cupra (Seat sports car) with an increase of 192% to 1,626 units.