The activity of auto parts sector recorded, in November, a 3.4% drop in relation to the same month of 2022, according to the report of the Association of Argentine Component Factories (AFAC).
The entity indicated that “During 2023, activity contracted 1.6% but if November 2023 is compared to October, a 10% increase stands out.”
“In most of the items associated with the chain, a similar dynamic was observed compared to the previous month (an increase in activity).
However, “the accumulated behavior showed drops in some cases, as happened with the entire industrial sector at a general level”, detailed the annual report of the Association of Argentine Component Factories (AFAC).
When analyzing the exports of the three main segments of the auto parts business, which are vehicle production, parts exports and the independent replacement market, trends of stagnation were evident.
Until November, auto parts exports fell 10%
Exports of auto parts registered a drop of 10% year-on-year during the first eleven months, although a significant increase in November of 22.8% compared to October stands out.
Between January and November 2023, vehicle production increased by 14.8% compared to the same period in 2022, with 573,742 units manufactured.
In November 2023, production levels compared to October increased by 8.9% and compared to the same month of 2022, it grew 6% year-on-year.
For the replacement market segment, when considering fuel sales as an approximate indicator of its level of activity, an increase was also observed for the period, which stood at 2.2% year-on-year and an increase of 2.5%. % compared to October of this year.
To prepare the report, AFAC considers the data published by INDEC on the Industrial Production Index (IPI) of Auto Parts (which includes activities related to it, such as plastic, metallurgical, chemical, textile, rubber, glass, electronics), Manufacturing IPI , Production of automobiles and light commercial vehicles from ADEFA, Exports of own Auto Parts based on data from INDEC, Customs and MDIC (Brazil) and Fuel Sales data published by the Ministry of Economy of the Nation.
Source: Ambito
