Spain’s car production slumped almost 13% in 2005 and overall vehicle output was down nearly 9%, the national carmakers’ association Anfac reportedly said on Thursday.
Go deeper with GlobalData
“The main reasons are the stagnation of the European market, the fact that some models made here are nearing the end of their sales cycle, and that vehicles made in Spain have lost market share,” Anfac said, according to Reuters.
Vehicles made in other European Union countries and in Asia had become very competitive, it added.
Including component makers, the automotive sector accounts for almost 6% of Spain’s economy and typically around a quarter of its exports by value. It also provides 10% of all jobs, Reuters noted.
The report said car output was 2.1m, after falling by 304,000 units or 12.7%, from 2004. In December alone, production fell 4.5%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIndustrial vehicle production rose 1.2% to 570,000 units. Vehicle exports dropped 9.4% in the year to 2.25 million, of which 1.7 million were cars, a fall of 13.4% from 2004, the news agency added.
The proportion of vehicles made in Spain that were exported was steady at 82%.
Anfac reportedly said its forecast for production this year was 2.75m vehicles, which would be a fall of just 0.2%.
