Polish automotive sector expects growth in Q1 – The First News – The First News

January 28, 2022 by No Comments

The automotive sector accounts for around 12 percent of Polish exports and employs more than 200,000 people.
Andrzej Grygiel/PAP

Despite difficulties, car parts manufacturers and distributors are optimistic about their business outlook for the Q1 2022, according to the latest survey by MotoFocus.pl, the automotive sector society (SDCM), and Santander Bank Poland.

The automotive sector accounts for around 12 percent of Polish exports and employs more than 200,000 people. The survey published on Friday shows that the industry is currently experiencing difficulties resulting from a growing number of Covid infections among workers, chaos around the Polish Deal programme, hikes in energy prices as well the European climate policy and constraints in the global supply chain.

However, the survey found that in 2021 as much 87.5 percent of interviewed automotive distributors, 90.6 percent of car part producers for the secondary market (IAM) and 65.3 percent of Tier 1 suppliers recorded an increase in revenues year on year.

At the same time, none of the Polish distributors expect a revenue decrease year on year in Q1 2022 and 58.4 percent project an increase of over 10 percent. The increase in revenues is also expected by 78.1 percent of producers from the IAM subsector and 65.3 percent of Tier 1 suppliers.

“Resuming regular supplies to the Polish automotive sector is expected in H2 2022, which still depends on infection rates among workers on different markets, the pace of building large stocks of semiconductors by manufacturers in various industries as well as the capacity of intercontinental logistics or the availability of raw materials,” Radoslaw Pelc, an analyst from Santander noted.

Source: https://www.thefirstnews.com/article/polish-automotive-sector-expects-growth-in-q1-27545

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