[DBMarcos99]

http://ibexsalad.blogspot.co.uk/2012/12/massive-auto-industry-investment-in.html?spref=tw

Nissan (Barcelona) – 100 million euros
Iveco (Madrid) – 1.5 billion
Ford (Valencia) – 812 million
Volkswagen/Seat (Zaragoza, Barcelona) – 758 million
Renault (Palencia, Valladolid, Sevilla) – 900 million (est.)

I knew Nissan, Renault and Ford were investing, but good to see the auto industry seemingly has confidence in the future. Could be another sign the economy is about to pick up?
Some further reading (may affect demand for housing/rentals in those areas)
Ford to increase by 80% its production in Valencia http://www.intereconomia.com/noticias-negocios/claves/ford-aumentara-un-80-su-produccion-valencia-y-llegara-300000-vehiculos-2012
Not sure where the 1.5 billion comes from, but this article stated in May that Iveco is to create 1,200 jobs in Madrid&Valladolid – maybe the amount’s been increased? http://motorhq.org/page/iveco-creara-1200-puestos-de-trabajo-en-madrid-y-valladolid.html

[Anonymous]

There is over capacity in the motor industry. So who will buy them ????

[Chopera]

@shakeel wrote:

There is over capacity in the motor industry. So who will buy them ????

I think the car manufacturers are generally getting rid of capacity, but it also seems they’ve chosen Spain for whatever capacity they’re keeping on: for every job created in Spain, 2 are lost somewhere else.

[angie]

Car sales in Europe are generally well down, for instance Fiat Turin have undershot their sales target worldwide by 19 Billion dollars according to their CEO Sergio Marchionne, whereas their sales targets have risen by 5% in the UK the only market to feature a rise.

Now if any of this applies to most car manufactures many of which are amalgamated like Fiat/Seat/Alfa/Ferrari and who knows, others, it’s yet another indication of how deep the Eurozone problems are.

By heck Spain needs some mighty big investment but as shakeel and chopera say, who is buying cars in Eurozone, and resulting job losses elsewhere? 🙄

[DBMarcos99]

@Chopera wrote:

@shakeel wrote:

There is over capacity in the motor industry. So who will buy them ????

I think the car manufacturers are generally getting rid of capacity, but it also seems they’ve chosen Spain for whatever capacity they’re keeping on: for every job created in Spain, 2 are lost somewhere else.

Yes I think that’s part of it. It’s also the case that the car companies try to antiipate changes in the market, so they may well been expecting an upturn generally. Although it probably still depends on the American recovery gaining traction.

[Author]

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