The sector revenue shall grow by just 1.9% this year and 4% in 2024, when investments will reach R$ 5.94 billion.
By Alzira Rodrigues | 10/31/23 | Translated by Jorge Meditsch
Sindipeças, the Brazilian automotive parts and components manufacturers association, updated its forecast for this year to 1.9%. The previous projection, released in April, was 7.1%. The previous expectation to achieve a R$ 250.3 billion revenue was downgraded to R$ 238.2 billion. Last year’s sector’s income was R$ 233.8 billion.
The autoparts manufacturers association also announced what it expects for 2024. According to its website, the expectation is a 4% growth to R$ 247.7 billion.
Investments also should be higher, about R$ 5.94 billion, a 2.1% increase over this year’s R$ 5.82 billion – 13% less than in 2022 (R$ 6.69 billion).
The investments in the autoparts industry grew in 2022 due to the introduction of Euro 6 emissions technology in the local production of heavy vehicles.
The employment level is expected to recover next year. The autoparts industry shall finish 2023 with 273.8 thousand workers (1.4% less than in 2022). The number should reach 279.3 thousand in 2024, a 2% growth.
The sector aims to expand external sales by 8% from US$ 9.22 billion to US$ 9.96 billion and keep imports at the same level as in 2023 and 2024 – from US$ 18.42 to US$ 18.6 billion.
Manufacturers’ purchases in decline
Aftermarket and export performance were positive this year, and their share in the sector’s total revenue should grow from 21.7% to 22.5% and from 13.8% to 14%. On the other side, manufacturers purchases shall fall from 61.4% to 60.4%.
Sindipeças believes the manufacturers will increase their participation in the sector’s income by more next year to 61.1%. Aftermarket and export shares shall have small reductions to 22.3% and 13.5%.
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