Auto parts activity grew 13.6% year-on-year last May, when it also reached an increase of 2.8% compared to April this year, reported the Association of Argentine Component Factories (AFAC).
However, during the first five months of 2022 there was a drop in the sector’s activity of 1.9% compared to the same period in 2021.
The main cause of this result was the low level of activity registered during the first months of 2022, which was not compensated by the growth of the following months.
However, May, as occurred with the industry as a whole and the other items related to the sector complex, except tires, presented a year-on-year and monthly increase.
When analyzing the evolution month by month, the three main segments of the auto parts business, which are vehicle production, parts exports and the independent replacement market, show positive trends.
Vehicle production increased during January-May 2022 by 27.2% compared to the same period in 2021.
Compared to April, an increase of 5.9% is recorded, as happened with auto parts, since this is the segment that has the most impact on the activity of said sector.
Although the trend in the activity of the terminals is accompanied by the auto parts sector, the latter experiences less variability as it has a greater diversification of its activities.
Exports of auto parts, meanwhile, recorded an increase of 4.9% year-on-year during the period considered.
For the replacement market segment, when considering the sale of fuel as an approximate indicator of its level of activity, an increase was also observed for the analyzed period, which stood at 20.3% year-on-year.
