The defending world champions were put under immense pressure after a humiliating 5-1 defeat to the Netherlands in their opening match, but they were unable to mount much of an improvement against Chile on Wednesday.
Jorge Sampaoli's men were quick out of the blocks and crafting inviting chances as early as the second minute, before eventually opening the scoring in the 20th through Eduardo Vargas.
The Napoli-owned forward cleverly sidestepped goalkeeper Iker Casillas before poking into an empty net following a squared pass from Charles Aranguiz.
The Internacional midfielder was involved again just before the break, prodding home skillfully after Casillas made the strange choice to punch Alexis Sanchez's free-kick into a crowd of players.
Defeat officially ended Spain's chance of retaining their title as world champions, seeing them crash out in the group stage and a "hurt" Del Bosque says there will be consequences.
"We played two games, and were not able to be better than Holland or Chile, so we are out of the World Cup," he acknowledged.
"It hurts, but in today's game we were a bit timid. We had a bit more play in second half, but not enough to even up the score.
"We thought we had very good chance, good players. But the reality is different. The second half versus Netherlands and today were low in every way.
"When something negative happens in a World Cup, there's consequences. But there's lot of time to think on what’s best for Spanish football.
"Chile made it very uncomfortable for us in first half. They sat back a bit more in the second. That was why the game was different.
"Chile were as we expected - their attitude, tremendous physicality they have.
"Their goal was a boost for them, not so much for us. But our players kept fighting to try and turn the result around.
"During the 25 days we've been together, how they have worked, their spirit, I would not have believed this would happen.
"Today is a sad day for those who have enjoyed all the successes of this team. And for us who have suffered it (failure) personally."
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