Forecast: Light Commercial Vehicles Production in Spain

Between 2013 and 2019, the production of light commercial vehicles in Spain demonstrated a generally positive trend, with notable growth peaks in 2014 (23.93%) and 2019 (5.6%). However, the market faced substantial declines starting in 2020, with significant contractions such as a 17.9% drop that year. This downward trend continued, with smaller declines observed until 2022. In 2023, a slight recovery of 2.31% was noted, positioning the production at 386.5 Thousand units.

Future trends suggest a modest recovery in production, with forecasted year-on-year increases starting from 2023 through to 2028, achieving a 5-year CAGR of 0.33% and an overall forecasted growth rate of 1.66%.

Trends to watch for include the potential impact of economic policy changes, advancements in vehicle technology, and shifts in domestic and international demand that could influence production volumes in the coming years.