Spain Emerges as BMW's Fastest Growing Market in 2024

2024 has been an outstanding year for the BMW Group in Spain. The company recorded its highest sales ever, registering 66,235 units, marking a 17.2% increase compared to the previous year, the highest growth among all the Bavarian group's markets worldwide.

According to the president of the Spanish subsidiary, Manuel Terroba, "we will undoubtedly contribute to the parent company's coffers." The executive also expressed satisfaction with a 50% increase in sales of zero-emission models, which reached 6,190 across BMW, Mini, and motorcycles.

2025 is set to be a pivotal year as manufacturers go all out on electric vehicles to avoid hefty fines for exceeding CO2 limits imposed by the European Commission. "The consolidation of the renewed Mini range, where one in four orders is zero-emission, will help us achieve our goal," Terroba stated.

"We are prepared to meet emission targets, with our product range and brand strategy, we will comply with the limits," he noted.

Regarding tariffs on electric cars manufactured in China, Terroba expressed confidence. "BMW is only affected by one model, and Mini will not increase vehicle prices. However, we oppose them, as it is like trying to fence in the open fields," he said.

BMW achieved a market share of 4.2%, the highest in its history. This was thanks to 45,184 registrations and a 29.4% growth. Two-thirds of sales went to the corporate channel, which grew by 18% to become the leader among premium brands—"a great news in a contracting segment"—and one-third to private customers.

In contrast, Mini's figures declined by 10%, closing the year with 7,808 registrations. However, none of the executives at the results presentation appeared concerned.

"The year 2024 has been very intense with so many launches and also atypical," explained Carlos Martínez-Gil, director of Mini in Spain. For the British emblem, 2024 marked the renewal of its three models, all of which include a zero-emission version.

"An important fact is that in the fourth quarter, 37% of all registrations were for emission-free cars, a percentage that already gives us an idea of the direction our range's electrification will take this year," commented the brand's director.