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November 2020 | Companies

Spanish exports of automotive components show a slight rebound compared to the first quarter of 2020.

Despite the global uncertainty we are experiencing, exports from Spanish automotive suppliers have shown an increase in sales compared to the first quarter of 2020. According to data from SERNAUTO, the Spanish Association of Automotive Manufacturers and the driving force behind our initiative, Autoparts from Spain, exports of Spanish automotive equipment and components reached 5.024 million euros between May and August 2020. This figure represents a 23.2% reduction compared to the same period in 2019; however, a slight recovery is already evident compared to the data from the first quarter of the year, which recorded a 26.2% decline.

This decline is in line with the contraction of economic activity, impacting both vehicle production and the aftermarket demand globally, with a particular impact on priority markets for the automotive sector.

 

How have Spanish sales of automotive components performed in the European Union?

 

In comparison with the first quarter of this year, sales have increased with half of our trading partners: Portugal (+6.4%), Italy (+4.8%), Poland (+1.1%), the Czech Republic (+6.4%), Slovakia (+3.9%), Slovenia (+18.6%), or the Baltic countries.

Even sales have increased in countries such as Greece (+13.9%), Bulgaria (+4.8%), Malta (+26.4%), and Estonia (+15.2%); however, significant declines are also recorded in the four major trading partners within this regional block:

  • Sales to Germany, our main market, have declined by 20.4% year-on-year, with a turnover of 890 million euros. This decrease is 5 percentage points higher than the same quarter of 2019.
  • France, our second trading partner, has experienced a reduction of 19%, with a total sales value of 815 million euros.
  • In Portugal, year-on-year declines of 17.7% are recorded, amounting to 476 million euros in turnover.
  • In Italy, with a -17% decline, total sales reached 270 million euros.

 

How have Spanish sales of automotive components performed outside the European Union?

 

During the second quarter of the year, exports outside the European Union witnessed two significant changes. On the one hand, markets like China stand out for their positive contribution to the variation in exports, with an increase of 3.6% compared to the same period of the previous year. South Korea, with a 30% increase, and Australia, with a 25% increase, reflect the gradual recovery of Southeast Asian and Oceanic economies.

On the other hand, there is a decline in exports to the United Kingdom, now considered a "third country," with a figure of 302 million euros, showing a significant decrease of 36.1%, the highest rate within the European region.

As for the rest, here are the main figures:

  • The United States, one of the markets that contributed the most to exports in the first quarter of 2020, is feeling the impact of the current crisis in the economy, with a year-on-year decline of 28.1%, reaching a figure of 233 million euros.
  • Morocco presents a similar setback to the US, with a 26.2% decline, placing sector exports at 211 million euros.
  • The most significant declines in extracommunity sales have been recorded in markets such as Mexico, Brazil, and South Africa, decreasing by 46.6%, 45.5%, and 45.3% year-on-year, respectively.
  • In the case of exports to Turkey, these decreased by 23%.
  • Exports to the Russian market (-19.9%) reduced their decline by eight percentage points compared to 2019, reaching 41 million euros.

One of the main hallmarks of the Spanish automotive supplier sector, its exporting nature, has been deeply affected by the severe impact of the COVID-19 pandemic on global and regional trade. However, the sector is immersed in an intense process of transformation, on the path towards a more decarbonized economy, addressing the challenges of digitization, connectivity, automation, all under the premise of sustainability.

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