The production value of renting and leasing motor vehicles in Spain has been on a general upward trend from 2013 to 2023, peaking at 8.18 billion Euros in 2023. Notably, the sector faced a sharp decline in 2020 due to external factors but rebounded strongly in subsequent years with values showing a steady increase. The year-on-year growth rates have fluctuated, with the most significant dip and recovery occurring between 2020 and 2021. The average compound annual growth rate (CAGR) over the past five years stands at 5.75%.
Future forecasts suggest continued growth, with an estimated CAGR of 4.24% from 2024 to 2028, leading to a production value reaching 10.7 billion Euros in 2028.
Future trends to watch for include technological advancements in vehicle leasing software, the impact of electric vehicles on the leasing market, and potential regulatory changes affecting leasing agreements.
