Spanish Auto-Parts Makers Off to Good Start in 2016

MADRID – Things are looking up worldwide for Spain’s auto-parts makers, whose exports from January through April were up 7.4% from year-ago, a trade group says.

The Spanish Association of Components and Systems for the Automotive Industry says global sales also exceeded the average 3.4% of the previous decade.

The European Union was the main destination for Spanish-made components through the year’s first four months, increasing 7.6% to €6.7 billion ($7.5 billion). The EU accounted for 75% of sales.

The EU’s largest individual importer was Germany, where sales of €1.4 billion ($1.6 billion) exceeded the first four months of 2015 by 3.6%, Exports to France improved 9.1% to €1.1 billion ($1.2 billion). Exports to Portugal and Italy grew 12.4% and 13.6% to €471 million ($525.3 million) and €324 million ($361.3 million), respectively.

Of the top 10 European destinations of Spanish exports, only U.K. sales decreased, slipping 3.5% from like-2015.

Outside the EU, sales of €146 million ($162.8 million) in Turkey represented a 59% jump. Exports to the U.S. grew 16% to €271 million ($302.2 million), while Chinese automakers bought €150 ($167.3 million) million in Spanish-made parts, a 29% increase. Exports to Russia increased 7.6%, but the total of only €50 million ($55.8 million) reflected the ongoing slump in that country’s auto industry.

The biggest loss was in another depressed market, Brazil, where sales of €55 million ($61.3 million) in the year’s first four months were down 21% from prior-year.

More than 130 Spanish companies participated in Automechanika Frankfurt, considered one of the auto industry aftermarket’s most important events that ended earlier this week. About 70 of them exhibited their products  in the Spanish Grouped Pavilion organized by the trade association in collaboration with ICEX, a government agency for export and investments.