The Spanish competition authority, CNMC, reported a notable decline in passenger numbers on the Madrid-Barcelona high-speed rail corridor, which fell by 13% year-on-year in the last quarter of 2025. This marks the first decrease since the liberalization of the rail market.

Despite the drop in the Madrid-Barcelona route, other corridors such as Madrid-Sevilla and Madrid-Málaga/Granada saw increases in demand, with growth rates of 18% and 9% respectively. The overall high-speed rail service recorded 10.6 million passengers, a 5.3% increase compared to the same quarter in 2024.

Market share dynamics shifted as Renfe, the primary operator, lost ground to competitors Ouigo and Iryo. In the Madrid-Barcelona corridor, Renfe's market share decreased to 56%, while Ouigo and Iryo gained 4 and 2 percentage points respectively.

Ticket prices in the Madrid-Barcelona and Madrid-Valencia corridors rose significantly compared to the previous year, although they remained lower than pre-liberalization levels. In contrast, prices in southern corridors decreased, reflecting competitive pressures.

Overall, the CNMC's findings highlight the evolving landscape of Spain's rail transport market, with implications for pricing, service offerings, and consumer choice.