Spanish car industry turning a corner

Spanish cars 2 TC

Spanish automobile manufacturing increased to its highest level in five years, with a total of 2.4 million vehicles produced in 2014.  That represented an 11.1% growth for the sector, boosted primarily by improved demand from abroad, with exports up by 8.51% last year.

The results place Spain ninth in car production worldwide and second in Europe. “It is very good news for the sector. We expect a production increase of 8.3% in 2015, which will bring production to 2.6 million units. There are good prospects for exports, which we think will account for 84% of all manufactured units,” said analysts from Bankinter.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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