News header Mobile news header
17 May 2024

336,726 cars have been sold in 2024 so far, 8% more than in the same period last year

Reading time
3 min.
News sections

The increase in new car sales in Spain represents stability and robustness in the automotive sector and will be epitomised at Madrid Car Experience. The event will be held from 22 to 26 May at IFEMA MADRID. With almost 30 brands from the sector having confirmed their participation, the event is presented as an excellent sales strategy.

New vehicle registrations in Spain have grown by 23.1% in April with 92,000 units sold, while in the first four months of the year a rise of 7.8% has been accumulated, with 336,726 registrations recorded. It showcases the good economic performance of the automotive sector so far in 2024, according to ANFAC data.

The positive balance of the industry's economic figures will be reaffirmed with the celebration of Madrid Car Experience, a major automotive event in which nearly 30 brands have committed to promoting the main novelties and boosting sales.  From 22 to 26 May, Halls 1, 3 and 5 of IFEMA MADRID, together with a large outdoor area of the Exhibition Centre, will host a space where the general public will be able to discover the most outstanding trends from brands such as Abarth, Alfa Romeo, Astara, ByD, Citröen, Cupra, DS Automobiles, Ebro, Fiat, Ford, Honda, Hyundai, Jaguar, Jeep, Kia, Kngloo, Land Rover, Lexus, Mazda, MG, Nissan, Omoda, Opel, Peugeot, Club Porsche España, Seat, Volvo and Tesla.

The recent figures released by the sector's employers' associations show the good trend in sales. These associations also underline that with a four-monthly increase of almost 8%, they maintain their forecast of being able to surpass the threshold of one million enrolments in 2024.

Stability and robustness of the automotive sector

With a 7.7% contribution to Spain's Gross Domestic Product (GDP) in 2023, the automotive sector continues to be one of the most stable by combining industrial and commercial activity, which last year reported a production of 2,451,221 vehicles and 949,359 registrations, as per ANFAC.

The robustness of the sector is also reflected in foreign trade, where its exports in 2023 amounted to 2,201,802 units, being 13.9% more than in 2022. It means that 9 out of 10 vehicles "made in Spain" last year were spotted on the roads of other countries. The European continent is the main export destination with an overall increase of 90% and an annual increase of 13.4%.

The figures translate into a trade surplus for the automotive sector in 2023 of 18,843 million euros, 14.5% more than in 2022, after reporting vehicle exports of 44,574 million euros (a growth of 26.8%), compared to imports of 25,732 million euros.

In terms of employment, the sector provides 587,700 jobs, which is 3.8% more than it had in 2019 before the pandemic, according to data from the National Institute of Statistics.