Spain`s automotive sector recovers in February, outlook negative

Spanish automotive production rose year-on-year in February after the drop seen at the beginning of the year and before the halting of domestic factories caused by the Covid-19 outbreak, Kallanish learns. The national automotive association, Asociación Nacional de Fabricantes de Automóviles y Camiones (Anfac), however, foresees output slumping between -50% to -60% in March.

“The Spanish automotive sector is suffering a sharp drop in March given the expansion of the pandemic and the restrictions derived from the state of alarm in Spain. It is expected that the sector will stop producing approximately 157,000 vehicles,” Anfac says.

Spain’s automotive production totalled 262,449 units in February or 2.9% more compared to the same period of 2019. During the first two months this year, the country’s output amounted to 502,484 vehicles. This volume was up by just 1.4% on the volume produced in January and February of last year.

Spanish vehicle exports were 216,429 units during February, an increase of 6.8% compared to the same month in 2019. Two-month shipments abroad also rose by 1.8% y-o-y to 400,159 vehicles, Anfac data show.