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June 2022 | Companies

Exports of Spanish automotive suppliers represent more than 60 of sector billing in 2021

The 2021 sector’s data of the Spanish automotive suppliers displays how the industry’s uncertainty and complex situation is still hurting companies, however, their strong exporting character is promoting a stronger recovery of Spanish companies.

Currently, Spanish suppliers’ exports to countries such as France, Germany, Portugal and Italy, among others, represent 61.3% of the sector’s billing. Specifically in 2021, exports reached €19,669 millions, 10% more than in 2020.

Besides their exporting character, their innovation investment to face the technological and industrial transformations in the sector safely and increasing their productive capacities allowed Spanish suppliers to bill €32,085 million, a 6.3% more than in 2020. However, pre-pandemic figures are not yet reached (37,000 M).

“Regardless the struggles the sector is going through, Spanish suppliers increased their innovation investment up to 8.5% reaching 1,164 millions, this means 3.6% from that year’s billing and three times the industry average. The investment average is kept its 4% in the last five years” states Begoña Llamazares, coordinator of the platform Autoparts from Spain

The spokesperson goes on saying that “In the same way, the sector invested €1,361 million to increase and improve their productive capabilities in order to keep on being a client-need-adapted, innovative and competitive industry. These figures display clearly the effort these suppliers are taking - both big and small business- to safely face the industrial transformation and keep being at the technology forefront”

According to the president of Spanish Association of Automotive Suppliers (SERNAUTO), Francisco Riberas: “These are very complicated months because of multiple exogenous and overwhelming factors, even so, our companies continue supporting innovation, talent and international expansion. There’s no other choice if we want to keep our country at the top as a global reference.”

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