From a profit record above 2 billion in 2025 (which represented an 89% growth) to a deep drop in net results, down 56%. The Anfac Annual Report, the Spanish association of car and truck manufacturers, highlights a clear reality in the sector: the transformation to electric vehicles is being extremely demanding for Spanish car factories, but automakers continue to draw on cash to move forward. During 2025, revenue grew by 3.8% compared to 2024, reaching 80.315 billion euros; investment soared by 24.7%, up to 3.197 billion euros, but at the same time, net income plunged 56%, settling at a mere 853 million.
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Employment has not come out unscathed from this process. In the last year, jobs linked to automotive manufacturers in Spain amounted to 53,943 positions. Although Anfac considers this number as “maintenance,” the association’s report last year stated they employed 57,189 people, which means a loss of 3,246 positions.
The association explains that this profit decline is due to “lower production, industrial restructuring processes, and increased manufacturing costs.” Meanwhile, the investment figure, “the highest on record,” has been mainly aimed at adapting Spanish plants to the production of electrified vehicles and attracting new industrial projects to our country.
The association’s statement thus speaks of a “contrast between the sector’s investment strength and a production environment heavily conditioned by Europe’s chosen method to impose the technological transition, the weakness of European demand, and the market impact of the geostrategic policies of the blocs with which Europe competes.”
In the presentation, José López-Tafall, Anfac’s general director, pointed out that “the record investment of 2025 demonstrates the manufacturers’ commitment to Spain.” He highlighted the manufacturers’ effort to make a productive change “defending employment and factories in a demanding year, where the economic environment is unfavorable.” “It is the best proof that the industry believes in the industrial future of our country and that Spain has the opportunity to consolidate itself as one of the major European hubs for electrified vehicles,” he stated.
In this regard, Tafall emphasized that, although current production data are not good (they estimate closing the year with 2.26 million units, flat compared to last year’s 2,274,026 units, a 4.3% decrease compared to 2024), the fact that launches are taking place and factories are preparing for new models “makes us less worried,” Tafall noted. Low demand and problems in Spain’s main export markets have stalled manufacturing data in recent years, and new products (and manufacturers setting up in Spain) can help recover the figures.
The sector’s total fiscal contribution reached 41.995 billion euros, 4% more than the previous year. Of this amount, 6.771 billion came from the purchase of new vehicles, representing an 11.9% increase compared to 2024.
The Spanish market, the report recalled, confirmed the recovery path started the previous year in 2025. For the second consecutive year, over one million passenger car registrations were exceeded, with 1,148,650 units, 12.9% more than in 2024, although still about 100,000 units below pre-pandemic levels. Tafall forecasted that the market will close the year around 1.230 million units, 7% more than the previous year.
Electrification was the main driver of this growth, they highlighted. During 2025, 245,629 electrified vehicles were registered (passenger cars, commercial vehicles, industrial vehicles, and pure electric and plug-in hybrid buses), 96.4% more than the previous year and the highest volume recorded to date. Electrified passenger cars accounted for 225,617 units, representing 19.7% of the market. Anfac’s general director highlighted these figures as very positive but reminded that “Spain started late in electrification and needs to keep pushing.” Anfac’s forecast aims to reach 300,000 electrified vehicles in 2025 and achieve a 25% market share.
Tafall assured that the Auto+ plan will be launched shortly, this July, and “it will not be stillborn.” “We will have a budget; as of today, there are funds. We all know that the 400 million will not last the whole year, they will last until September or October, and we will fight so that all electric vehicle buyers who want to buy a car have funds, even if they decide in November,” he assured.
