Vehicle production up 68% in 2018 to 294,000, accelerating 2017 trend

  • Lusa
  • 7 February 2019

In 2018, vehicle production in Portugal increased by 68%, accelerating the trend witnessed in 2017, according to the ACAP. 97% of the vehicles were exported.

Vehicle production in Portugal rose 68% in 2018 to a total of 294,000 vehicles, accentuating an upward trend that began in 2017, the Portuguese Automobile Trade Association (ACAP) said on Thursday.

Out of the total number of vehicles produced in Portugal, 97% were for export, according to the ACAP’s annual figures.

The main export markets were Germany (21.4%), followed by France (15.4%), Italy (12.2%) and the UK (10.7%).

Automobile production in Portugal had in 2017 already risen 22.7% to 175,544 vehicles, so interrupting the downward trend seen in the two previous years.

EU commission cuts 2019 growth forecast to 1.7%

Lusa,

Although the government still expects GDP to grow by 2.2%, the European Commission seems to be less hopeful, cutting back to 1.7% its estimates for the Portuguese economic growth.