Spanish factories made 8.1% fewer cars and trucks in the first half of this year than a year earlier, Reuters reported, citing the National Carmakers’ Association Anfac.
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For cars alone, the fall was 11.3% to 1.17 million. The number of industrial vehicles produced edged up 1.6%. Almost 81% of vehicles made were for export.
Reuters noted that most of the major automakers have plants in Spain and the auto industry accounts for around 6% of the economy and 16% of exports – economists warn this is among the industries most at risk from Spain’s rising labour costs and inflation above the euro zone average because it is relatively simple for manufacturers to shift production elsewhere.
Car exports in the six month period dropped 11% and in June alone they fell 15%.
Anfac reportedly said the decline in exports was due to the erratic performance of the main European markets for Spanish-made cars and the fact that some of Spain’s plants were nearing the end of their commercial life.
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By GlobalDataProduction in June dropped 9.1% to 285,983 units for all types of vehicles. Cars accounted for 216,885 of the total, a fall of 13.4%, Reuters said.
