Automobile spare parts: the market's sudden restart
Growing export and heavy duty vehicle registrations.
In 2013, the export of the automotive components sector totaled 19.27 billion euro, an increase of 5.7% on last year's figures, in contrast to the overall performance of all goods exported (-0, 1%). 2013 also recorded imports amounting to € 11.1 billion (+4.2% compared to the year before). This latter trend is also in contrast to last year’s imports overall performance (-5.5% in 2012). The balance at the end of December was positive by € 8.168 billion, up 7.7% compared to 2012 (7.58 billion).
ANFIA data based on a study of the automotive sector, explains how in the 1st quarter of 2014 spare parts trade was rather dynamic compared to the exchange of all other goods: exports of motor vehicle parts and optionals reach € 5.1 billion, growing by 9.3% over the same quarter of 2013, imports grew by 8, 2% with a total value of € 2.9 billion. The balance is positive by 2.19 billion (+10.8%).
Exports toward EU countries are worth 3.59 billion euro (+12.4%) and account for 70.5% of all exported components (it was 68.6% a year ago) producing a trade surplus of 1.45 billion euro ( it was 1.18 billion in Jan / March 2013). Exports to non-EU countries added up to 1.5 billion euro (+2.6%) and produced a positive balance of 746 million euro, equal to one third of the entire sector’s trade balance (2.19 billion euro ).
The exports ranking by individual countries sees in 1st place Germany with 1.07 billion euro and a total market share of 21%; followed by France (11% share), Spain (8%), USA (7%), which slightly exceeds the UK (6.9%), Poland (6.7%), Turkey (3.6%), Brazil (3.1%), Austria (2.7%) and Belgium (2.4%).
The total exports by Italian companies toward NAFTA countries add up to 441 million euro, an increase of 21% and a balance surplus of 335 mln. Italy exports to the Mercosur area spare parts for 184 million euro, a decrease of 18% compared to a year ago, but with a balance surplus of 155 mln.
The first Asian market is China (90m euro, up 10.5% compared to January-March 2013), followed by Japan (64m euro, +80%, with a positive balance of 12m) and India (56m euro, +25%).
In the so called ASEAN countries (Malaysia, Indonesia, Vietnam, Cambodia, Singapore, Thailand, Philippines, Myanmar, Brunei, Laos) exports of components "made in Italy" total at 25m euro (down 33% compared to the first 3 months of 2013).
An in-depth observation of the data confirms the absolute predominance of road freight, absorbing 82.7% of all ton / kilometer transported goods in 2011 (excluding sea and air freight). Transport over short and medium distances, which is roughly below 300 km, accounts for 91% of transported goods, therefore, most of the haulage is performed by trucks. More than half of all the goods (54%) travel no longer than 50 km, and ¾ of them (77%) will not travel further than 150 km. We notice therefore a close relation between the current positive trend in truck registrations and the volume of goods transported by road measured in billions of Km.
In 2013, the market for commercial vehicles up to 3,500 kg GVW recorded more than 101 000 new registrations, with a decline of 12.5% on 2012. The medium-heavy truck registrations have affected approximately 12,600 trucks, down 8.3%, while sales for trucks with a GVW equal to or greater than 16t were over 9,600 (-3%).
In January-May 2014, 49,000 new registrations (+16%) were recorded, 5,700 trucks (+6%), of which 4800 with a GVW exceeding 16t (+19.8%) but only 1,038 buses (-1.9%).