The Spanish Car and Truck Manufacturers Association (ANFAC) has just released a sector report for 2015 with figures that underscore the recovery in both domestic sales and exports.
The different vehicle brands with plants in Spain saw an 18.3% rise in turnover vs the previous year, reaching 60.85 billion euro. In addition, component manufacturers saw 32 billion in revenue representing a joint total of 92 billion euro.
Thanks to this growth, the automotive industry, combining vehicle and component production, now represents 8.7% of Spanish GDP, up nine tenths from the previous year. ANFAC also adds in other affiliated services, such as marketing, after-sales service, financial services and insurance, to bring the global percentage above 10%.
The positive performance in the sector has also benefitted jobs, with 9% of the active population in Spain working in the industry, up three tenths on 2014. It is also the type of employment ANFAC describes as 'immensely high quality and stable', with 83% of positions at plants being permanent contracts.
A large part of these positive figures is down to exports, which hit 34 billion euro and have started to diversify outside the European Union. The automotive industry currently represents 18% of all Spanish exports, seven tenths higher than in 2014. This places it as the sector with the best trade balance with a record surplus of 17.196 billion euro.
In total, Spanish vehicle plants produce 44 different models, 20 of which are exclusively manufactured in Spain, making it the second largest vehicle manufacturer in Europe and eighth in the world.
The automotive sector paid a total of 25.807 billion euro in taxes in 2015, 0.4% of total tax receipts. Taxes on new and used vehicle sales and registration, fuel and road taxes are included in this figure.
VAT saw the highest growth in terms of tax take due to new vehicle sales, with a revenue of 3.526 billion euro, 22.3% higher than the previous year. This is proof of the recovery underway in the sector.
Last updated: 21|07|2016