Part of EAFO’s Series on EV Market Trends Across Europe
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Spain's electric vehicle (EV) market faced a challenging 2024, with overall registrations of electrified vehicles (BEV + PHEV) declining by 3.9% compared to the previous year, reaching a total of 133,699 units. The year highlighted both achievements and persistent barriers as Spain continues its journey toward decarbonization.
Highlights:
- December’s Record Performance: December stood out as the best-performing month of the year, with registrations surging by 21.1% year-on-year to reach 17,264 units.
- Full-Year Trends: While BEV passenger car sales increased by 7.8%, other segments, such as electric vans (-26.7%) and electric motorcycles (-36.5%), dragged down overall numbers. PHEVs also faced a drop of 4.9%, ending the year with 59,738 units.
December Insights
In December, EV registrations saw a strong finish, driven by increasing interest in fully electric passenger cars:
- BEVs: 8,925 units, up 48.2% YoY.
- PHEVs: Despite a 3.6% drop, 6,307 PHEVs were registered.
Key contributors to December's growth included a sharp rise in private sector purchases of EVs, which grew by 106% YoY, making up 66% of total electric passenger car sales. Corporate fleets and rental sectors showed declines, emphasizing the need for stronger incentives targeting these channels.
2024 Full-Year Performance
Electrification by Vehicle Type:
- Passenger Cars (BEV+PHEV): 117,255 units (+0.6% YoY).
- Electric Vans: 4,871 units (-26.7%).
- Electric Motorcycles: 5,422 units (-36.5%).
- Electric Buses: 669 units (+20.9%).
Registrations of pure electric vehicles in 2024
| Vehicle Type | Dec. 2024 Registrations | % Change (YoY) | Cumulative 2024 | % Change (YoY) |
| Passenger Cars | 8,925 | +48.2% | 58,675 | +7.8% |
| Vans | 515 | -12.6% | 4,871 | -26.7% |
| Quads/ATVs/Tricycles | 24 | +14.3% | 317 | +26.8% |
| Quadricycles | 81 | -6.9% | 1,052 | -1.7% |
| Mopeds | 563 | +130.7% | 2,709 | -42.8% |
| Motorcycles | 583 | +3.0% | 5,422 | -36.5% |
| Medium Trucks | 3 | +200.0% | 106 | +360.9% |
| Heavy Trucks | 13 | +30.0% | 140 | +6.1% |
| Buses/Coaches | 36 | -37.9% | 669 | +24.6% |
| TOTAL | 10,743 | +41.4% | 73,961 | -3.1% |
Market Challenges:
- Inconsistent Growth Across Segments: While passenger cars saw moderate growth, other vehicle types faced steep declines, underlining the need for targeted policies.
- Decarbonization Goals: Spain aims for 5.5 million EVs on the road by 2030 under the National Energy and Climate Plan (PNIEC). With only around 600,000 EVs currently in circulation, achieving this target requires accelerated efforts.
Spain's EV Incentive Program in 2025
Spain's EV incentive program, Moves III, with a budget of €1.55 billion, was set to expire at the end of 2024. However, the Spanish government has extended the program's validity until June 30th, 2025, allowing regions to continue providing subsidies for electric vehicle purchases and the installation of charging points. The program currently provides subsidies of up to €7,000 for EV car purchases and €9,000 for commercial EVs. A separate 15% tax deduction for EV purchases is also set to expire.
The Spanish government is working on a successor program to address structural weaknesses in the current program, such as delays in subsidy payments to consumers. For example, under the Moves III program, consumers sometimes had to wait up to two years to receive their subsidies. The new program will likely feature direct payments at the time of purchase and a centralized subsidy management system to avoid these delays. A potential shift to a demand-based allocation of funds could ensure that regions with higher EV adoption rates receive more support, potentially accelerating the transition to electric mobility in those areas. Further details on the new program, such as the total budget and the amount of aid, are expected to be announced soon. Industry associations have expressed support for the continuation of EV incentives and called for a more efficient aid scheme.
Recommendations from AEDIVE and GANVAM for 2025
- A revamped national fiscal aid scheme to complement the ongoing MOVES plan.
- Policies encouraging EV adoption in corporate fleets and light commercial vehicles.
- Investments in EV charging infrastructure to sustain momentum.
Emission Trends and Outlook
While the EV market expanded slightly, the overall share of electrified passenger cars (BEV+PHEV) slipped to 11.4% of total car sales, down from 12.0% in 2023. CO₂ emissions for new passenger cars averaged 116.4 g/km for the year, reflecting a modest improvement of 0.5% YoY.
A Mixed Year:
Despite the challenges, Spain exceeded 1 million total passenger car registrations for the first time since 2019, showcasing resilience in the broader automotive market. For 2025, the sector aims to double EV volumes, backed by stronger policy frameworks and sustained consumer interest.
Stay tuned for EAFO’s upcoming insights on other European markets and a full analysis of 2024’s EV trends across the continent.
Sources:
Views and opinions expressed are those of the author(s) and do not reflect those of the European Commission.
