Optimism, growth, bright future. It may not be perfect, but it’s definitely very good. Research confirms that Polish parts manufacturers, who play a key role in the entire European automotive business, are collectively showing approval.
The situation for parts manufacturers in mid-2023 is really good. Compared to the second quarter of 2023 with the same period last year, an increase in the number was recorded by almost 3/4 of the companies participating in the survey prepared by MotoFocus.pl in cooperation with Santander Bank Polska and the Polish Investment and Trade Agency. .
Moreover, the growth is more than 10 percent. about a quarter of the respondents. Forecasts of the development of products sold, collected during the previous survey of the state of producers in the first quarter of 2023, came true. This is another quarter in which manufacturers are recording sales growth year on year.
Rising costs are a problem
The main problem faced by companies in Poland is rising operating costs. Over 95% felt it. component companies surveyed. To make matters worse, the increase in operating costs exceeds 10%. affected more than half of the companies. This is another such quarter, and there is no chance of a change in the situation in the near future.
As we read, just over a third of companies recorded an increase in profitability in the first half of 2023. This is in line with the forecasts for the whole of 2023 made in the preparation of the MotoFocus.pl and Santander Bank Polska barometer for the fourth quarter of 2022. At that time, profitability growth of 34.3 percent was predicted. respondents. After the onset of the Covid-19 pandemic, the profitability of auto parts manufacturers has declined significantly and remains dangerously low.
Poland supports the automotive industry
This is obvious news, the automotive industry is one of the key sectors of the Polish economy. Poland is the world’s seventh largest exporter of automotive parts. The results of the study confirm this state of affairs. Only a few companies do not carry out export activities or they are marginal. For more than half, this is key to the sales mix. In May 2023, Poland recorded the largest surplus in trade in goods since January 2023 and the largest surplus in international trade in services in a year. This is a consequence not only of the fall in the value of imports, but also of an increase in exports. According to NBP analysts, the automotive industry has become the driving force behind these exports. Batteries for electric vehicles made in Poland play an increasingly important role here. Poland, according to the Polish Association of Alternative Fuels, is the second largest battery manufacturer in the world, with batteries from Poland accounting for 2.4 percent. of all Polish exports (data for 2022).
- The result of the study confirms a trend that has been observed for many years - the automotive industry in Poland is largely export-oriented. According to the analysis of Automotivesuppliers.pl, only in the pandemic year 2020, a decrease in the value of exports by -4.9% was recorded, and in the next year, 2021, an increase of 13.2% was already recorded. In 2022, the export value of the automotive industry increased by 21.6 percent. and reached a record amount of more than 39.7 billion euros. It’s not just 21.56 percent. more than the previous year, but also a new export record for the Polish automotive industry. The largest export product groups are parts and accessories (36% of exports), lithium-ion batteries (21.36% of exports), and cars and light vehicles (13.75% of exports). It should be noted that in all groups a significant increase in exports was recorded, which amounted to 18.7%, 25.5% and 25.5%, respectively. The Polish Investment and Trade Agency expects the growth trend in the Polish automotive industry to continue, says Grzegorz Galczynski, manager of strategic industries at PAIH.
Source: Wprost
I am Jason Root. I work in the news website industry and mostly cover the automobile industry. I have also written for Daily News Hack. My work revolves around new car models, prices, and features. In addition, I often write about used cars and tips for buying them. My articles are meant to be helpful for those who are in the market for a new or used car.
