Automotive industry expects good year & turns its gaze on South East Asia
Invoicing in this sector of Basque industry broke through the €16 billion barrier in 2016 and is expected to grow by at least 3.5% this year. In their efforts to diversify, firms are looking to Japan and ASEAN.
The Basque automotive component industry expects 2017 to be a “good year”, and sees itself as "strong and capable of growing and developing”. José Esmoris, Chair of the Basque automotive cluster ACICAE, expressed optimism and the belief that 2017 would certainly be “even better than 2016”. This year sales are expected to increase by around 3.5%, and this is considered a conservative estimate, given that "some changes in the market cannot be foreseen", explained Mr. Esmoris as he presented the results for 2016 and prospects for 2017 for the automotive sector together with Director Inés Anitua and Deputy Chair Alejandro Olagüe.