Spanish Automotive Suppliers Deliver Good Results with Moderate Growth
In 2018, turnover in the Spanish automotive component industry reached 37.17 billion euros, a 2.6% increase over 2017.
The components industry in Spain has created almost 40,000 new direct Jobs in the last 5 years.
Sector exports reached a new record of 21.42 billion euros, 7% more than in 2017.
High investment in R&D&I (4.2% of turnover) positions the automotive components sector as a reference for Spanish industry.
In 2018 the Spanish automotive equipment and component industry continued to grow despite stagnant national vehicle production and international trade tensions and uncertainty, according to data presented today by SERNAUTO, the Spanish Association of Automotive Suppliers.
Sector turnover reached 37.17 billion euros, 2.6% more than in 2017, representing a moderate growth with respect to previous years. This was made possible thanks to Spanish suppliers’ export efforts, increased competitiveness and firm commitment to staying at the forefront of technology.
In this sense, in 2018 the sector continued to invest 4.2% of its turnover in R&D&I, a total of 1.55 billion euros, thereby allowing for continued recognition as one of the most innovative industries in the country. Automotive suppliers invest three times as much as the industrial average in R&D&I.
Regarding employment, more than 5,000 new jobs were created in the sector in 2018, reaching 230,100 direct jobs and 372,800 direct and indirect jobs. The direct employment generated by the sector is characterised by its stable, high-quality jobs and countrywide distribution. In fact, in several regions of Spain it represents more than 10% of industrial employment.
In order to remain competitive and adapt to customer demands, automotive suppliers continued to invest more than 2 billion euros to increase and improve their production capacities.
Sector exports reached a new record high in 2018: 21.42 billion euros (7% more than in 2017), representing 57.6% of turnover.
Of the domestic market turnover of 15.76 billion euros, 10.27 billion correspond to the supply of equipment and components to vehicle manufacturers (-5.9%) and 5.49 billion come from the aftermarket (+3.2%).
SERNAUTO’s President María Helena Antolin highlights, “once again this year the figures show everything that the automotive supply industry contributes to the Spanish economy and society. These results are achieved through our strong commitment to internationalisation and R&D&I, which also allows us to be strategic partners of all vehicle manufacturer brands and the main aftermarket distribution groups.”
In recent years automotive suppliers have experienced a positive evolution, each year contributing more to the economy and employment in Spain, as well as to the balance of trade.
In the last five years, sector turnover has increased by more than 9 billion euros, nearly 40,000 new direct jobs have been created and more than 6.5 billion euros have been invested in R&D&I.
SERNAUTO’s Board of Directors’ first estimates for 2019 foresee growth slowing down, and turnover and employment maintaining their levels with some moderate increases.
According to SERNAUTO’s Managing Director José Portilla, “the uncertainties and trade tensions in our main markets made 2018 a tough year for the sector, in addition to the technological disruption we are experiencing. With this in mind, the automotive supply industry needs the Administration’s support to maintain the levels it has reached through real and specific measures. These measures must promote competitiveness and the ability to successfully carry out a technological and industrial transition, with the firm intention of continuing to generate wealth and quality employment in this country, just as is happening in other European countries.”
In: CLEPA News, Growth & Competitiveness