The Association of Argentine Component Factories (AFAC) revealed in its latest report on the activity of the auto parts industry that during May the sector had a year-on-year growth of 13.6%.
Also, the organization explained that the guild had an increase of 2.8%, compared to April of this year; however, during the first five months of 2022 the auto parts industry registered a 1.9% drop compared to the same period in 2021.
This, due to the low level of activity that the auto parts industry during the first months of the year and that, according to the Association, “was not compensated by the growth of the following months”.
The survey also highlighted that in May “the industry as a whole and the other items related to the sectoral complex” had an upturnexcept tires.
Consequently, the three main axes of the industry: vehicle production, parts exports and the independent replacement market “presented positive trends” during the fifth month.
According to the data, “the production of vehicles increased during January and May 2022 by 27.2% compared to the same period in 2021”; while if compared to April the growth is 5.9%.
On the other hand, auto parts had the same positive trend, meanwhile the activity of the terminals presented “less variability as they have a greater diversification of their activities”.
How were the exports
The Association stated that During May, exports of the industry increased 4.9% year-on-year, This increase turns out to be very significant for the sector and marks a positive trend for the second half of the year.
For its part, “the replacement market segment, when considering the sale of fuel as an approximate indicator of its level of activity, also observed an increase for the analyzed period that stood at 20.3% year-on-year,” they indicated.
