Bilbao, March, 15th, 2024 – The Basque automotive sector had a turnover of 25,023 million euros in 2023, 11.5% more than in the previous year, reaching historic levels. This figure does not include the specific weight of Mercedes Benz Vitoria.
These results are the consequence of the tight management of the companies, their diversification of customers/markets/technologies and a demand for vehicle production that has performed reasonably well on all continents.
With regard to employment, in its 740 production plants, it exceeded 140,000 people in the world, of which 38,480 are located in the Basque Country, which means that it has remained the same in the Basque Country as in the previous year.
According to Inés Anitua, Director General of ACICAE, “We must always be cautious with regard to the prospects for 2024. The reasons are varied, from the geostrategic context to the energy transition itself, which has different temporal readings. Nevertheless, the forecasts for 2024 are moderately optimistic, although it remains to be seen how the vehicle manufacturers’ projects and the economic strength of the consumers themselves will be consolidated.
On the other hand, 90% of the sector’s sales are still international, and more than half of these are generated outside Europe. The sector has also maintained its factories abroad, with 345 production plants in 32 countries, in both emerging and traditional markets.
In relation to R&D&I, Basque companies have devoted around 3.5% of their turnover to this, a figure higher than the previous year.
The Basque automotive sector is made up of some 300 component companies, ranging from multinationals with foreign capital, local multinationals, cooperatives and family businesses.
