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Spanish auto industry recovers in October

According to the Spanish Association of Automobile and Truck Manufacturers (ANFAC), vehicle production decreased by 1.2% to 2.02 million units in the first ten months of the year. Following three months of weak performance, a recovery appeared in October.

Spanish auto industry recovers in October

The production of vehicles in October increased from 205,418 units in September to 227,850 units. This represents an increase of 2.2% y/y. 74.5% of the vehicles produced included cars with petrol and diesel engines.

Spain's exports of autos in October reached 200,363 units, an increase of 1.2% y/y. This figure, which exceeded the exports of 185,327 units in September, showed signs of recovery in the sector.

European markets contributed 94.1% of Spanish auto deliveries. This increased by 1.4 percentage points on a monthly basis and by 5.4 percentage points on an annual basis. According to ANFAC data, however, total exports decreased by 2.4% to 1.79 million autos in the first ten months of 2023.

ANFAC data indicates that in the first 10 months of the year, production of zero and low emission vehicles increased by 21.3% to 516,251 units. In October, production of these vehicles accounted for 53% of the total with 69,321 units. Conventional hybrid vehicles (HEV) accounted for 20.4% of production with 166.6% growth, while electric vehicle production decreased by 28.8% to 18,390 units, accounting for 8.1% of total production.

ANFAC's General Director, José López-Tafall stated on the topic: "Although vehicle production in Spain remains stable and if the upward trend continues in the next two months, we could be at similar production levels as last year, we are concerned about the decline in electrified vehicle manufacturing in recent months. This is a warning sign to act immediately and adopt measures to boost electrified vehicle sales. If there is no demand, there is no production." 

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