Spanish suppliers export €25 billion-worth of auto parts in 2024

Autoparts from Spain reports that the country’s automotive component suppliers exported parts worth more than €25 billion ($28.9 billion) in 2024, a slight -0.5% decrease compared to the record set in the previous year.

Autoparts from Spain is a collaboration of suppliers that provides intelligence on the automotive equipment and components industry. It said that exports accounted for 60% of the sector’s total turnover of €41.2 billion. That overall turnover is a -0.7% decrease after two years of growth and the association said that the sector is becoming subject to inflation, low production volumes, tight margins, and global uncertainty. Investment in production capabilities fell to €1.46 billion in 2024, a 12.3% decrease from the previous year. 

However, the level of exports reaffirms foreign trade as a growth driver for automotive suppliers based in Spain, said the association, making Spain the third-largest exporter of automotive components in Europe. 

The European Union remains the primary destination for Spanish auto parts, with exports totalling €16.6 billion (66.3% of the total), despite a -4.6% drop compared to 2023. The top export destinations in the EU in 2024 were Germany, France and Portugal. Other growth markets in the EU for Spanish parts exports included Slovakia, Poland, Czech Republic and Romania. 

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However, there has been notable growth further afield to offset the slowdown in demand in Europe, with Morocco, the US, Turkey, Mexico, Brazil, and South Korea growing in significance as export destinations. The UK remains the leading non-EU destination, accounting for €1.3 billion in exports. 

“These figures confirm the high degree of internationalisation and adaptability of Spain’s automotive suppliers,” said Begoña Llamazares, marketing manager at SernAuto and spokesperson for Autoparts from Spain. “In a time of technological transformation and mobility challenges, our industry remains a trusted partner for manufacturers and distributors worldwide.” 

Autoparts from Spain forecast similar turnover levels for 2025, remaining above €40 billion, though without significant growth expected. The outlook will continue to be shaped by factors such as vehicle production volumes, the geopolitical context and regulatory pressures, said the association.