Upcoming Trade Shows in Spain for Automobile - Automotive Industry

Spain's automotive sector has experienced its share of highs and lows, much like the global automotive industry. In 2021, the country stood as one of the world's top motor vehicle producers, a feat partly due to the presence of international automakers on its shores. However, the industry witnessed a drop in production in 2021, a trend that echoes throughout the world’s automotive central hubs. The rollercoaster ride for the Spanish automotive sector isn't unique. The COVID-19 pandemic took the industry by storm in 2020, halting production and aggravating the global semiconductor shortage, leading to severe supply chain issues. Simultaneously, Russia's invasion of Ukraine created a wave of global price inflation, impacting Spain's automotive market. A decrease in motor vehicle and motorcycle sales, along with a reduction in the workforce, led to a spike in unemployment rates. Challenges stemming from the pandemic and a decline in production value snowballed, further hitting the sector. In the first year of the pandemic, the motor vehicle manufacturing industry saw a significant drop in production value. The motor vehicle wholesale and retail trade sector also faced financial uncertainties with a 15.24% year-on-year decrease in turnover in 2020. This downturn came after a period of consistent growth from 2013 to 2019. With most of the obstacles posed by the pandemic already behind automotive companies in Spain, the industry has seen an uptick in revenue. It reported 46.02 billion euros in automotive exports, surpassing the 36.52 billion euros in automotive imports. A significant portion of the vehicles produced in Spain is exported abroad with France and Germany being primary destinations. Spain's automotive sector has shown resilience in the face of adversity. While navigating through troubled waters, it's gearing up for a brighter and more stable future. As the industry adapts to global dynamics, it remains a key player on the world stage.