Spanish automotive industry reduces 2020 production target

The Covid-19 outbreak has deeply impacted Spain’s automotive sector performance. The industry is adjusting to “…the new normal” and has reduced its annual production target, says carmakers’ association Asociación Nacional de Fabricantes de Automóviles y Camiones (Anfac).

Output is seen falling by 600,000-700,000 units on-year in 2020, or between -20% and -25%. The outlook, however, will depend on the evolution of the pandemic and production rate of car factories after Covid-19-related stoppages, Anfac says.

Spain’s automotive production totalled 210,880 units in June, -19.2% down year-on-year. During the first half of 2020, output amounted to 955,763 vehicles, -37.8% less than in January-June 2019, Kallanish notes.

Spanish vehicle exports fell -14.9% on-year in June to 178,075 units, while six-month shipments abroad were -35.7% less totalling 793,536 units, Anfac adds.