Exports down 3.7% to €1 billion
Exports of automotive components by Portuguese companies were down in February by 3.7% in comparison to the same month in 2024, to around €1 billion, according to figures released on by the Association of Manufacturers for the Automotive Industry (AFIA).
In the first two months of the year taken together, exports were down 2.9% year-on-year to around €2 billion, the group said.
In a statement, AFIA explains that “the automotive industry has been negatively affected by the slower than expected growth in sales of electric vehicles and by the heightening of geopolitical tensions, which have contributed greatly to the worsening of instability and uncertainty in the market.”
Europe in February remained the main destination for components manufactured in Portugal, accounting for 88.5% of these exports, although there was a year-on-year drop of 3.5% in sales.
Regarding main individual markets, Spain tops the list, followed by Germany, France and then the US, with exports to these respectively down 4.5%, 9.1%, 0.4% and 4.4%.
By contrast, the association notes that sales to Morocco showed “exponential growth – up 49.1%” – with the north African country now Portugal’s 8th most important market for auto parts, up three places from 2024.
“Leveraged by its industrial acceleration plan, Morocco currently has an annual production capacity of 750,000 vehicles, with the industrial growth plans of Renault (which has two plants on Casablanca and Tangier) and Stellantis (a plant in Kenitra) contributing to this,” says AFIA president José Couto in the statement.
Source: LUSA
