Spanish Automotive Suppliers created more than 12,000 jobs
- Turnover grew by almost 7% in the Spanish automotive components industry to a record 36.24 billion euros in 2017.
- Suppliers generated 12,700 new direct jobs, thereby reaching 224,700 direct jobs and 364,000 direct and indirect jobs.
- Compared to 2016, 13.3% more was invested in R&D&I in 2017, with a total of 1.53 billion euros, representing 4.2% of industry turnover.
- The sector has met the objectives set out in the ‘2020 Strategic Plan for Components’ three years ahead of schedule.
Madrid, 12 June 2018 / Today the Spanish Association of Automotive Suppliers (SERNAUTO) presented the official sector data for 2017, confirming its growth trend.
All figures have increased, most notably investment in R&D&I, which went up by 13.3% with respect to 2016. At a total of 1.53 billion euros, this represents 4.2% of sector turnover, demonstrating the strong commitment of Spanish automotive suppliers to technological differentiation. This hereby positions them as one of the most innovative industries in the country.
In line with recent years, sector turnover grew by nearly 7% to over 36.2 billion euros, a new record for this industry. This was made possible thanks to increased competitiveness among the companies in the sector, economic recovery and higher value of components in the vehicle.
With regard to employment, the sector created 12,700 new jobs, reaching 224,700 direct jobs and 364,000 direct and indirect jobs. This represents growth of more than 6% compared to 2016. The direct employment generated by the sector is characterised by its stability, quality and geographical distribution. In fact, it represents more than 10% of industrial employment in numerous Regions.
As a result of the constant effort to adapt to the requirements of their clients, automotive suppliers invested more than 2.2 billion euros (11.4% more than in 2016) in increasing and improving their productive capacities.
In 2017, sector exports exceeded 20 billion euros, representing 55% of sector turnover.
In the national market turnover totals 16.23 billion euros, of which 10.91 billion euros correspond to the supply of equipment and components to vehicle manufacturers (almost 14% more than in 2016), and 5.32 billion euros come from the aftermarket (9% more than the previous year).
In the words of Maria Helena Antolin, President of SERNAUTO, “We are particularly pleased with the figures obtained by the sector as a whole in 2017. These data are the result of the constant effort that we as suppliers make to offer our clients the best products and solutions adapted to their demands. We can proudly say that we are strategic partners of all brands of vehicle manufacturers and of the major parts distribution groups. This is not something that is accomplished overnight.”
She goes on to say, “Now we must continue to innovate and open up to other markets to stay at these levels and continue to generate wealth and quality employment. I hope that we can work together with the new Ministry of Industry to promote and support the competitiveness of our companies, many of whom are SMEs.”
Forecasts for 2018
According to initial estimates made by SERNAUTO’s Board of Directors, in 2018 the sector will continue its growth trend, seeing an increase of approximately 3% in turnover and 2% in employment.
Impact on the objectives of the ‘2020 Strategic Plan for Components’
In 2014 the Association, in collaboration with The Boston Consulting Group, drew up the ‘2020 Strategic Plan for Components’. According to the figures presented for 2017, all the objectives set by the sector to be met in 2020 have already been achieved:
- A projected increase in turnover of 6.8 billion euros (i.e. reaching 34.8 billion euros) was exceeded in 2017.
- A total of 31,000 direct jobs were to be generated by the sector between 2014 and 2020. As of today, 33,700 jobs have already been created, which means the objective increase for 2020 has been achieved.
- The target of 19.4 billion euros in exports was already met in 2016, and in 2017 this figure continued to grow.
- The investment objective set for 2020 in R&D&I, 1.39 billion euros, was exceeded with the increase in 2017.
SERNAUTO is the Spanish Association of Automotive Suppliers. Founded in 1967, it brings together over 85% of sectorial turnover through its affiliated member companies. It represents an industry made up of more than 1,000 companies that supply components to the 17 vehicle manufacturing plants located in Spain. The sector is third in terms of number of exports, directly exporting 55% of production and reaching 82% if the components installed in exported vehicles are taken into account. This is a strategic sector, which in 2017 had a turnover of more than 36.24 billion euros and reached 364,000 direct and indirect jobs in Spain.
In addition to representing sector interests before the public administration, SERNAUTO is the entity recognized by the administration as the association officially representing the sector in Spain.
SERNAUTO is a member of the Board of Directors of CLEPA, the European Association of Automotive Suppliers.
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