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Portuguese vehicle production grows 30.6% y/y in Q1

23 April 2019 Ian Fletcher


Portuguese vehicle production has seen strong growth during the first quarter of 2019. According to data published by the Portuguese Car Trade Association (Associação Comércio Automóvel de Portugal: ACAP), output increased by 30.6% year on year (y/y) during the first three months of the year to 94,471 units, with a gain of 37% y/y in March alone to 31,693 units. Supporting this growth has been passenger car production, which gained by 31.5% y/y in the quarter to 78,156 units, with a 39.5% y/y uplift in the most recent month to 25,885 units. In addition, light commercial vehicle (LCV) production has increased by 26.7% y/y in the quarter to 14,818 units, while in March this was an improvement of 28.7% y/y to 5,276 units. As for medium- and heavy commercial vehicles (MHCV), output in the quarter has increased by 21.1% y/y to 1,497 units, while in March this is up by 9.5% y/y to 532 units.

Significance: Although there may have been some benefit from the timing of Easter this year, data for the quarter show that this is a longer-term trend. Also, with a limited number of light vehicle producers in Portugal, it relatively easy to analyse where these improvements have stemmed from. IHS Markit expects that passenger car production will grow by a further 11.5% y/y to 246,300 units in 2019, before starting to slip back during 2020, while LCV production is forecast to expand by around 20% y/y to nearly 81,800 units, with a further more modest gain expected in 2020.

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The above article is from AutoIntelligence Daily by IHS Markit. Every working day, AutoIntelligence Daily provides about 30 articles focused on automotive news, events and trends. Get a free trial.



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