The Portuguese Automobile Association (ACAP) revealed that automobile production in Portugal decreased by 20.2% in March compared to the same month in 2023, with 31,732 vehicles produced.
In a statement, ACAP revealed that in the first three months of 2024, 95,582 vehicles were produced in Portugal’s factories, which is 4.7% more than the same period last year.
“The statistical information for the first three months of 2024 confirms the importance of exports for the automotive sector, as 98.4% of vehicles manufactured in Portugal are destined for foreign markets, which significantly contributes to the Portuguese trade balance,” adds the note from ACAP.
Europe continues to be the leading market for exports of vehicles manufactured in Portugal, accounting for 79.8%, with Germany (22.3%), Italy (12.7%), Spain (9.5%), and France (9.3%) at the top of the rankings.
In terms of major regions, the African market, led by Algeria (10.2%), maintains the second position in exports of automobiles manufactured in Portugal, accounting for 12.7% of exports. Asia occupies the third position with 3.8% of national exports.
Regarding the assembly of automobiles in Portugal, 35 heavy vehicles were assembled in March 2024, representing a 250% increase compared to the same month last year.
In cumulative terms, in the first quarter of 2024, the assembly of heavy vehicles showed a growth of 69.6% compared to the same period of the previous year, representing 78 assembled vehicles.
ACAP also added that from January to March, 55.1% of the vehicles assembled in Portugal were exported, representing 43 units. The United Kingdom (67.4%) and Germany (32.6%) are the only destinations for these exports.
