Car Production Recovers in October with a 2.2% Increase

Vehicle production in Spain during the first ten months of the year reached 2.02 million units, a 1.2% decrease compared to the same period last year, according to the Spanish Association of Automobile and Truck Manufacturers, Anfac.

The manufacturers' association stated in a press release that production slightly recovered in October, growing by 2.2% compared to the same month in 2023, reaching 227,850 units.

According to the association, these figures indicate a slight improvement in industrial numbers, breaking the downward trend observed over the past five months due to weak vehicle demand in the national and European markets.

Regarding vehicle types, car production increased by 5.9% compared to October last year, reaching 182,914, marking an accumulated growth of 2.2% in 2024.

On the other hand, commercial and industrial vehicles recorded a 10.5% decline, with 44,936 units manufactured, leading to a 13.2% reduction so far this year.

Anfac detailed that during the first ten months of the year, the production of zero and low-emission vehicles (electric, plug-in hybrids, conventional hybrids, natural gas, and LPG) increased by 21.3% compared to the same period in 2023, totalling 516,251 units.

Specifically, in October, 69,321 vehicles were manufactured, accounting for 53% of the production share. Anfac explained that this monthly production surge was driven by the strong growth of conventional hybrids (HEV), which increased by 166.6% in October, representing 20.4% of production.

Regarding the share of electrified vehicle manufacturing, October reached 8.1% of total production, registering a decrease of 3.5 percentage points compared to the same month in 2023.

In total, last month saw the production of 18,390 electrified vehicles, representing a 28.8% decline compared to October last year.

Considering the accumulated data for the year, there is a 25.5% decrease, with a total of 179,673 electrified models manufactured, translating to a production share of 8.9%.

Regarding exports, 200,363 units were sent abroad in October, a 1.2% increase compared to the same month in 2023. For the annual total, 1.79 million vehicles were exported during the first ten months of the year, representing a 2.4% year-on-year decline.

Concerning the export destinations of models manufactured in Spain, Europe ranks first, with 94.1% of vehicle shipments in October, marking an increase of 5.4 percentage points compared to the same month in 2023.

In the top five destinations for Spanish production, France remains in the lead, followed by Germany, the United Kingdom, Italy, and Turkey, the latter maintaining its position despite a 35% reduction in export demand. Additionally, the figures highlight, once again, the increase in the Netherlands (44.9%) and the reappearance of Portugal (35.5%).

"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," explained Anfac's General Director, José López-Tafall.