Portugal has produced 140,000 cars and will produce around 300,000 in 2020 (an increase of 114%)
In 2016, the automobile industry cluster had a turnover of approximately € 10,500m (equivalent to 5.6% in national GNP), with around 98% of the business volume corresponding to exports. This data was presented by Deloitte Portugal, in an unpublished study in Portugal entitled "Automotive Industry Cluster Study in Portugal", presented at the Mobinov Conference: Automotive Industry, Relevance and Future Trends. This conference was held on January 15, 2018 at the Polytechnic Institute of Leiria (Portugal), where the CITNM was present.
In addition to these indicators, we highlight the significant importance that the automotive industry has in manufacturing investment (18% in 2016). This industry incorporates more than 72.000 workers. These indicators show the extreme relevance that the automotive industry has in the country's economy.
The prospects are encouraging and it is estimated that by 2020 there will be a 114% increase in the number of vehicles produced in Portugal, which will contribute to an increase of 4.9% (millions of Euros) of Gross Value Added (GVA), increase of 2.6% of the number of jobs and an increase of 7.4% (millions of Euros) in exports.
The automotive industry cluster has shown, over the past few years that, it is able to adapt to industry trends and capture foreign investment. In the future, beyond these challenges, it should also seek greater insertion in the external market and rise in the value chain.
It is undoubtedly a critical sector for the country's economy and with excellent prospects for the future.