H. Yoo
Research expert covering South Korea
Automotive industry in Spain - statistics & facts
In 2023, the provisional Euro 7 deal on polluant emissions rules for new cars in Europe left the Spanish government optimistic about the prospect of attracting new investments to the country's automotive sector. As Spain works on the diversification and electrification of its automotive sector, the industry has also recorded more positive results in 2023. The Spanish automotive industry ranked among the leading global motor vehicle producers in 2023, partly because many international automakers have established manufacturing plants there. The country’s 2023 motor vehicle production volume reached nearly 2.5 million, an uptick of 10.4 percent year-over-year, though still below pre-pandemic production volumes. This slow recovery trend in the industry mirrors the one recorded by the global automotive sector across the same period.
