The Automotive Industry Manufacturers Association (AFIA) announced that exports of automotive components recorded a slight increase of 1.3% in July compared to the same period last year, amounting to approximately €1000 million.
The data revealed by AFIA breaks two consecutive months of decline, and although there was a slight increase in July, compared to the 23.5% rise in total national goods exports, automotive component exports account for 15.1% of national exports of tradable goods.
Regarding the cumulative exports from January to July, exports of automotive components reached €7200 million, showing a decrease of 3.7% compared to the same period in 2023.
AFIA reminds us that “sales to the European market, in the cumulative total for 2024, continue to show a downward trend, with a decline of 4.7% compared to the same period last year, while accounting for 88.3% of the total exports of automotive components”.
With a share of 27.6% of exports, Spain remains the main destination for components manufactured in Portugal, followed by Germany and France, with 23.7% and 8.3%, respectively.
“Despite this slight improvement, we remain concerned about everything happening in Europe and worried about the future of the sector. The European industry is going through a turbulent period; however, we believe in the strength of our industry to find ways to overcome these challenges.”, said José Couto, president of AFIA.
