In 2024, Tesla Spain closed the financial year with a record net profit of €6.98 million, marking a 15.3% increase compared to the previous year. The company’s total revenue also reached an all-time high at €640 million, up 18% from 2023.
The majority of the income—€613.1 million—came from vehicle sales, which is a 17% increase over last year’s figure. The service segment generated €26.9 million, up 53% compared to 2023.
In Spain, Tesla electric vehicle sales in 2024 grew by 28.4% to 16,675 units. This growth is attributed to sustained demand for electric cars, bolstered by government subsidies under the Plan Moves program. The most popular model was the Model 3, with 11,063 cars sold over the year—an 85% increase year-on-year. This model accounted for 66% of the brand’s sales. Model Y was purchased by 5,479 customers, a 19% decrease compared to 2023, but this crossover still represents 32% of total sales. The S and X models together made up only 0.8% of all units sold.
By the end of 2024, there were 41,626 Tesla vehicles on Spanish roads—almost double the previous year’s figure. This fleet growth reflects the accelerating adoption of electric vehicles in the country, despite a challenging market environment, competition from Chinese manufacturers, and subsidy payment delays that can last up to two years.
Over the year, Tesla Spain doubled its number of retail outlets—now there are 14 across the country. The network of branded Superchargers also expanded: by the end of December, 81 stations were operating compared to 64 a year earlier.
The company’s workforce increased by 41%, reaching 257 employees. Of these, 44 worked in sales and 213 in service operations. Unlike the previous year, when shareholders received 7 million euros in dividends, in 2024 all net profit was allocated to the company’s reserve fund.
Tesla Spain’s results highlight the growing interest of Spaniards in electric vehicles and the company’s strengthening position in the local market. Despite challenges related to competition and bureaucratic hurdles, Tesla continues to expand its presence and invest in infrastructure development.
