In 2019, the UK was the fourth main commercial partner for the Spanish automotive suppliers, the export figures reached €1494 million. 2020’s total, until October, reached figures of €974 million, 23.8% less than the previous year due to the pandemic impact. EU, considered as a block, is now the second destination for the sector’s global exports as Brexit has been established on 31 January of 2020.
The times we are living in are plenty of uncertainty and change in the individual day-by-day aspect of life and, undoubtedly, in the economic and business sense as well. All of it comes as a result of COVID-19’s impact in our lives.
This atypical and complicated year 2020 is about a month to end. Through it, the automotive business has been forced to handle meaningful transformations and this sector asks itself: what is in store for the last quarter of the year?
Despite of the worldwide uncertainty we are into, the Spanish automotive suppliers experienced an increase in sales compared to the first quarter 2020.