This chapter analyses Spain’s mainstream conservative party, the Popular Party (PP). Of the two revolutions analysed in the book – the silent and silent counter-revolutions – the Popular Party only confronted the former for several decades. In general, it adapted to a more liberal society by moderating to capture centrist voters in the 1990s without losing far right voters, thereby remaining hegemonic on the right. Midway through the subsequent decade, Spain’s two main parties, the Socialist PSOE and PP, moved further apart on post-materialist and centre–periphery issues. Today, PP is severely weakened and ideologically sandwiched between two right-wing party challengers, the more centrist Citizens and the far right Vox. This political fragmentation is due to a favourable opportunity structure for the rise of new parties after 2010 – related to the Great Recession, political corruption and the push for independence in Catalonia. In this context, PP was unable to retain its diverse electorate. It now confronts dilemmas similar to those of many of its European counterparts, and the party’s initial response to the rise of Vox was to move rightward and accommodate it as an ally.