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The Automotive Sector in Spain

Key Factors

We have broken down the essential information to help you understand the impact of automotive on the Spanish economy.

  • In the last 5 years, Spain was the 2nd most preferred European destination for multinationals for new automotive projects.
  • Spain is the 2nd largest vehicle manufacturer in Europe and ranked 9th worldwide in 2021.
  • The automotive sector provides nearly 2 million jobs throughout the country, being an important generator of employment in many regions, beyond the big cities.
  • The turnover of the automotive industry represents 10% of the Spanish GDP.
  • The automotive industry is responsible for 18% of Spain’s total exports.
  • Spain’s most popular export destinations for this sectors are the UE, Turkey, Morocco, Egypt, and the U.S.

The Automotive Sector in Spain: Geographic Location

The success of Spain’s automotive industry export is also due to its geographical distribution on the country:

  • Spain hosts 17 car production plants, 15 technology centres, and 10 automotive clusters.
  • The automotive sector is well developped in Spain’s main cities: Madrid, Barcelona, Balencia, Zaragorza, Sevilla, Pamplona, Avila, Valladolid, Palencia, Vigo, Santander, Vitoria.

Want to know more about other Spanish sectors? Please check out Foreign Direct Investment in Spain, or visit the ALTIOS Spain website.

spain infographic automotive sector

Here you can find an infographic on the automotive sector in Spain. Read the article below to have a larger overview of this Spanish industry.

For more information, please contact us.

ALTIOS Group announces the expansion of its activities in Spain with the acquisition of a new firm in Madrid. ALTIOS is a leading international business development consulting firm dedicated to small and mid-caps and pursues its expansion all over the world.

April 2021

ALTIOS Group set up an office in Madrid 5 years ago and has witnessed Spain’s potential for external growth. The new acquisition will reinforce ALTIOS Group activities in the country.

Despite the Covid-19 crisis, the Spanish economy has shown significant improvement since the beginning of the year, with steady growth forecast for the next 3 years. The provisions set up by the country have led the IMF and the World Bank to estimate an increase in growth of 5.7% for 2021. This increase positions Spain for the second strongest growth among European countries in the year.

Spain is naturally one of the top destinations for European companies. It is the 13th largest economy in the world in terms of GDP, and has strong connections and specific trade agreements with Latin Americas countries.

Given the importance of Spain for foreign companies and its potentials, ALTIOS decided to acquire the consulting company NAEVA BUSINESS to reinforce its position in Spain with:

  • The integration of a company specialized in market development in Spain for foreign companies: business development, domiciliation, recruitment, payroll services, management of subsidiaries, external growth
  • About thirty active customers from all sectors of activity: aerospace, automotive, railways, food processing, medical, e-commerce, consumption goods
  • Foreign investors from all countries: France, Germany, Canada, USA, China, South Korea

The combination of expertise areas and means of intervention promises ALTIOS’ current and future clients a seamless support capacity and market knowledge.

« The acquisition of this company allows us to respond to the growth ambitions of our clients. It is also an excellent market for South American companies. Spain is naturally benefiting from this refocusing with a significant number of structuring projects over the last 6 months.

Having a larger local team seems to us to be essential to provide clients with the diligent support they need in their internationalization. This is the reason that we have chosen to rely on an integrated network since our foundation. It’s a long and ambitious strategy for a company, but it guarantees that we will have access to cutting-edge expertise, a solid network of contacts and tailor-made services to accelerate the internationalization of our clients, with the same quality regardless of the geographic zone targeted,” says Patrick Ferron, Co-founder of ALTIOS Group and Managing Partner in charge of Spain.

“Spain is a key economic destination for ALTIOS clients. With a GDP growth of 5.7% for 2021, and a similar rate for 2022, Spain will emerge from the pandemic as one of the most dynamic economies in Europe. Our desire to join the ALTIOS Group is a key element in accelerating growth to strengthen us in the country with a company with a strong international base. In this way, we are expanding our resources to offer increasingly tailored solutions to our customers wishing to establish themselves in Spain. We have noticed that, with the crisis we are going through, many European clients wanted to strengthen their position in markets that are closer to them and easier to access and manage. This acquisition is a direct response to the new needs we have identified,” concludes Manuel Moreno, Altios’ new Managing Partner for Spain.