The employment in the Renting and Leasing of Motor Vehicles sector in Spain has shown a steady growth over the past decade, with values climbing from 12.46 thousand FTEs in 2013 to 19.63 thousand in 2023. The significant year-on-year growth until 2019, followed by a slight dip due to the pandemic in 2020, resumed its modest upward trend from 2021 onwards. In 2023, employment stood at 19.63 thousand FTEs. Over the last two years, employment growth rates have hovered around 1.73%, highlighting a slow but steady improvement. The five-year CAGR from 2019 to 2023 is at 1.06%, indicating a deceleration compared to earlier years.
Looking forward, the projected employment figures show a consistent rise, expecting to hit 21.21 thousand FTEs by 2028. The forecasted five-year CAGR up to 2028 is 1.23%, predicting a gentle but positive trajectory. Key trends to watch in the future include advancements in electric vehicle leasing, policy changes favoring sustainable transportation, and potential impacts from fluctuating economic conditions.
