The basque automotive sector grows in turnover and employment

  • March 22nd, 2018
It exceeds 18,300 million Euros, 11.7% more than in 2016

2,840 people were employed in the Basque Country, i.e. 7.4% more

Bilbao, 22.3.2018–– The Basque automotive sector continues to grow at a steady rate surpassing forecasts, to make a turnover of 18,390 million Euros in 2017, i.e. 11.7% more than the previous year, although this figure does not include the specific weight of Mercedes Vitoria.

These results have also had an impact on employment with a significative increase of 2,840 people, i.e. 7.4% more to exceed 40,800 people in the Basque Country alone. A further 45,000 people must be added who work outside the Basque Country for the over 300 companies comprising the automotive cluster.

According to Jose Esmoris, the ACICAE Chairman: ‘Basque industry has learnt how to diversify their customer portfolio, products and markets in recent years to benefit from this time of general economic growth.’

He then went on to state: ‘this growth needs consolidating with an increase in winning our customers’ outsourced projects together with the entry of new products in addition to digitalisation of our processes.’ To this effect, he stated that the cluster hoped to continue along this line of growth in 2018, with a 7% increase in relation to current figures.

In this sense, 90% of their sales are internationals and over half generated outside Europe. New factories have also been set up abroad reaching a total of 284 production plants in 29 countries, on both emerging and traditional markets.

These global figures means the Basque sector turnover represents 25% of the Basque Country GNP and almost 50% of the entire automotive component sector in the State.

Regarding sales, 60% corresponds to car builders and 38% to first tier suppliers, with a mere 2% for spare parts.

As for R+D+i, Basque companies assign approximately 2.8% of their turnover to the same, which amounts to 7% in the case of business groups and multinationals.

With regard to training questions, virtually 100% of companies contemplate training plans adapted to the needs of their employees assigning on average 1.8% of their turnover.

The Vice-Chairman, Alejandro Olagüe, recalled they were celebrating ACICAE’s 25th anniversary: ‘A symbolic date which will allow us to visualise the evolution of the industry, so it will be celebrated with a series of events, among which I should like to highlight the exhibition of cars made in the Basque Country throughout the last century, in addition to a top level meeting with automotive executives related to the Basque Country.‘