The automotive sector is strategic to the Spanish economy and has become one of the underlying pillars of industry in the country. Spain is the 2nd largest car manufacturer in Europe, only behind Germany, and is the First European producer of commercial vehicles. . These facts have a strong effect on the Spanish economy, producing a positive impact on the commercialization, financial and transport sectors, without forgetting the vehicle and component manufacturers..
The vehicle component manufacturer sector had a turnover of 34 billion euros in 2016 and contributed to around 75% of the overall value of the vehicle, transferring its innovative capital to the entire global value chain. In addition, exports are an important driving force and have been increased by 35%; approximately 60% of sales in the component sales sector comes from exports to more than 170 countries.
This success stems from maintaining flexibility and productivity without reducing labour costs. The employment growth rate for the vehicle component manufacturers is one of the highest in Spanish industry as a whole: 3.2% since 2009. In 2016, the figure of 212,000 jobs was surpassed, as this is a sector that has begun to recover quickly, by returning to 25% employment in 7 years.
The strength demonstrated by the component manufacturer sector in its strategic decision to invest in innovation, is the basis for the evolution of the automotive sector in general. In terms of R&D, almost 7,500 million euros have been invested since 2008, 2.9% of its average turnover during the period. Therefore, the Spanish components has positioned itself as the second most productive in Europe, only surpassed by that of Germany. As such, it should maintain levels of investment abroad, locating plants and maintaining export levels, to become an established international supplier.
All this information has been revealed in the publication "Sectoral Policy Agenda of the Automotive Industry", a project developed by KPMG Spain, the Spanish Association of Automobile and Truck Manufacturers (ANFAC) and the Spanish Association of Automotive Equipment and Components Manufacturers (Sernauto), with the Ministry of Economy, Industry and Competitiveness. Based on an integral approach, this Agenda proposes "20 measures for 2020" aimed at channelling the industry of the future through increased competitiveness. The measures are based on general objectives that include improvements in different areas: productive model, transport efficiency, taxation and financing, innovation, human capital and, finally, internationalization.
These measures are undoubtedly called upon to boost the automotive sector and, here at M. Serrano, we will continue working to face the challenges which are presented and will continue to be presented; challenges that will help us to maintain what has been achieved in the sector and to continue advancing as an industry..
The complete document is available on the ANFAC website and is free to consult. Access to consult all the sector measures and information is freely available by clicking here.