The Spanish automotive supplier sector billed 41,529 million euros in Spain during 2023, a 10.3 per cent increase over 2022. This represents a milestone in the local industry, breaking the 40 billion euro barrier for the first time.
A swap and a new addition – that’s how the changes amongst the top 10 largest automotive suppliers by turnover worldwide can be summed up. Places one to five stayed the same as last year. That means: Bosch leads the top 10, followed by Denso, Continental, ZF Friedrichshafen and Magna. Behind them, Hyundai Mobis, now sixth, and Aisin, now seventh, have swapped places compared to the ranking published last year, before Michelin and Bridgestone follow unchanged in eighth and ninth place respectively.
Italian automotive suppliers are at risk if measures that have shut down the supply chain aren’t lifted next week, Brembo chairman Alberto Bombassei has said.
Hankook Tire is once again a GM Supplier of the Year awardee. General Motors honoured the tyre maker as one of its 132 best suppliers at a ceremony held on 20 April. This is the second consecutive year Hankook has received the award.
ZF and Hella are entering into a strategic partnership. The automotive suppliers say they will benefit from cooperation on “sensor technology, particularly for front camera systems, imaging and radar systems”. ZF will further strengthen its portfolio as a systems supplier which offers both modern assistance systems and autonomous driving functions, whereas Hella will drive technological development and benefits from a broader market access. The first joint development project in camera technology will start immediately, with the objective of a market launch in 2020.
The SMMT’s Automotive supply chain members are planning to invest £225 million over the next three years in a bit to boost the British content of vehicles built in the UK.
In a new survey of more than 100 SMMT supply chain member companies, 94 per cent said they plan to invest in their businesses over the next three years – at a total of £224,485,000. Of those, four in five (79%) intend to invest in plant, machinery or tooling; three quarters (73%) in skills and apprentices; and two thirds (66%) in new product development.
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Assero Gear via Flickr; CC BY-ND 2.0