The automotive industry is one of the largest employers in the country. In 2015 Spain was the 8th largest automobile producer country in the world and the 2nd largest car manufacturer in Europe after Germany.

By 2016, the automotive industry was generating 8.7 percent of Spain’s gross domestic product, employing about nine percent of the manufacturing industry. By 2008 the automobile industry was the 2nd most exported industry while in 2015 about 80% of the total production was for export.

German companies poured €4.8 billion into Spain in 2015, making the country the second-largest destination for German foreign direct investment behind only the U.S. The lion’s share of that investment—€4 billion—went to the country’s auto industry.