September was the best month of the year for auto parts companies

September was the best month of the year for auto parts companies

Auto parts manufacturing companies recorded the best month of 2023 and also in recent years last September. This was highlighted by the Association of Argentine Component Factories (AFAC), in its latest activity report.

In September the growth was 4.6% compared to the same month in 2022. And it rose 0.9% compared to the previous August. It was “the busiest month so far in 2023, and even in recent years,” according to the report.

However, when taking the accumulated evolution in the January-September period of the current year, a drop in activity of 1.2% was verified compared to the same period in 2022. “Although in the rest of the items associated with the chain it was verified an increase in activity in the accumulated, the manufacturing industry registered a slight drop, both in the accumulated and in relation to the previous month,” stated the AFAC.

When analyzing the evolution month by month, the three main segments of the auto parts business – vehicle production, parts exports and independent replacement market – registered a trend that “has been ironed for months,” he added.

In this sense, he specified that vehicle production increased during the January-September 2023 period by 18.1% compared to the same period of the previous year, closing the accumulated period with 465,236 units manufactured.

Meanwhile, September presented a drop in production levels in relation to August, which was around 10.6%, and when compared with September 2022, the balance was an increase of 8.7%, according to the conclusions of the AFAC survey.

Auto parts exports fell 8.6% year-on-year during the period analyzed, although September registered a slight increase compared to August, standing at 0.2%.

For the replacement market segment, when considering the sale of fuel as an approximate indicator of its level of activity, an increase was observed for the period January-September 2023 that stood at 1.5% year-on-year and a drop of 4%. .3% if September is compared to August of this year.

Source: Ambito

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