The Spanish motor vehicles industry, with more than 2.8 million vehicles manufactured in Spain, has the second-highest output in the European Union, having overtaken other countries more traditionally associated with the sector such as the United Kingdom, Italy and France.
Spain’s motor vehicle sector accounts for 10% of the country’s GDP and almost 20% of its total exports. We can say without fear of contradiction that since 2008 it has been the sector to best weather the crisis. This is due not only to manufacturers’ commitment to infrastructures and Spain’s technological skills but also because management and trades unions have succeeded in creating a stable framework that allows multinationals to maintain investment in Spain and goes beyond the reform of working conditions. SEAT, Nissan, Opel, Volkswagen, Mercedes Benz, Audi, Renault, Peugeot and Citroën models, amongst others, are currently manufactured in Spain, some of them exclusively for the global market. And we should not overlook a succession of incentive schemes encouraging the purchase of a new vehicle. These have to some extent succeeded in renewing the cars currently on the road, although there undoubtedly remains much to be done in this respect. In 2016 nearly 1.3 million new cars were registered.
BDO professionals have many years’ experience in the sector, providing their services to its various actors, advising manufacturers, makers of components and major groups of dealers. This gives us an overall perspective on the sector and allows us to cover the various aspects of the business.
We know the industry from the inside and we have helped multinationals of various sizes establish factories in Spain. We have even collaborated in setting up and monitoring our clients’ subsidiaries in other markets in the European Union, Central America South America and North Africa, areas where some of our clients have been extending their business as the circumstances of the market demanded.
Our clients currently include medium-sized companies and multinationals that in Spain alone have a turnover of more than 700 million euros, including suppliers of unique components for the whole of the world market.
Our services can include:
- Setting up companies from creation, acquisition to physical establishment, studying the industrial real estate market and advising on Green Field constructions or the acquisition of existing structures.
- Mergers, acquisitions, valuations, financial or legal due diligence, MBOs, LBOs and other acquisition processes.
- Investment strategies and consultancy services for management.