Automotive exports drop in Q1 - report

Polish automotive exports fell by 2.85 percent y/y to €6.58 billion in Q1 AutomotiveSuppliers.pl said in its report. Germany remains the biggest importers of Polish automotive products, accounting for 31.7 percent of the whole exports value, followed by Czechia (8.5 percent) and Italy (7 percent). The drop in value was caused by lower car sales, which decreased by 14.7 percent to €1.69 billion, as well as 26.6 percent drop in bus exports. Car parts and accessories sales grew by 5.47 percent to PLN 1.69 billion which is the best Q1 result in history. Overall that segment accounted for 47.57 percent of the automotive exports. According to the latest forecast, this year will be the first one since 2014 when the value of Polish automotive exports will drop. In 2017 Polish automotive exports reached a record-high level of €25.22 billion beating 2016 figures by 9.75 percent. Car parts and accessories segment accounted for 44.59 percent of that figure.