The Automobile Association of Portugal (ACAP) revealed that automobile production in Portugal grew by 9% in January compared to the same month in 2023, with 33,761 motor vehicles produced.
In a statement, ACAP revealed that in the first two months of 2024, 63,850 vehicles were produced in Portugal, which represents an increase of 23.9% compared to the same period of the previous year.
“The statistical information for the first two months of 2024 confirms the importance of exports for the automotive sector, as 98.9% of vehicles manufactured in Portugal are destined for foreign markets, which significantly contributes to the Portuguese trade balance”, adds the ACAP note.
Europe continues to be the leading market for exports of vehicles manufactured in Portugal, accounting for 77%, with Germany (21.1%), Italy (12.1%), Spain (8.8%), and France (8.0%) at the top of the ranking.
In terms of major regions, the African market, led by Algeria (12.9%), remains in second place for exports of automobiles manufactured in Portugal, accounting for 15.6% of exports. Asia is in third place, accounting for 4.4% of exports of motor vehicles manufactured in Portugal.
Regarding the assembly of motor vehicles in Portugal, in February 2024, 23 heavy vehicles were assembled, representing a 15% increase compared to the same month in 2023.
In cumulative terms, in the first two months of 2024, the assembly of heavy vehicles showed a growth of 19.4% compared to the same period of the previous year, representing 43 vehicles assembled in 2024.
ACAP also added that from January to February 2024, 55.8% of the vehicles assembled in Portugal were exported, representing 24 units. The United Kingdom (58.3%) and Germany (41.7%) are the only destinations for these exports.
