Car components sector enjoys best June in 15 years
Exports of car components totalled €836 million in June, a like-for-like increase of 14.5%. However, the first half of 2022 suffered a 1.8% fall compared to the same period in 2021.
According to the Portuguese Manufacturers Association for the Automotive Industry exports of vehicle components increased for the second month running as overseas sales continued to recover.
In the second quarter of 2022 exports enjoyed a 3.1% increase on 2021 for the period April-June 2021, going from €2.2Bn last year to €2.3Bn in Q2 2022.
Nevertheless, despite good results in the second quarter, exports of vehicle components for the first half suffered a 1.8% fall for the first half of 2022 on the same period in 2021, reaching €4.7Bn.
Analysing exports of automotive components according to country, Spain topped the list with sales of €1.3Bn (-5.2%), followed by Germany with €1.0Bn (+6.6%), France €484 million (-17.2%), the US with €283 million (+33.8%) and the United Kingdom with €207 million (-€13.5%).