Poland Automotive Report - 2013

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Poland Automotive Report - 2013

This report covers market developments in 2013 for Poland’s automotive sector. The report also summarizes corporate news for firms including Fiat Auto Poland, Goodyear, Volkswagen, and GM, among others.

The Polish automotive sector continued to be negatively affected by shrinking external and domestic demand in 2013, yet overall the situation remained stable in all segments of the market. The production of motor vehicles declined for the sixth consecutive year in 2013 and reached its lowest level since 2004, when Poland joined the EU. Nonetheless, the contraction has visibly moderated to minus 8.1% year on year last year from the 23.3% year on year drop recorded in 2012. The annual overall decline in production was driven by the diminishing passenger car output, while in the commercial vehicle segment the situation improved year on year. The decline of motor vehicle output in the past years was driven by shrinking external demand, as most of the automobile production in Poland (nearly 99% in the case of LCVs) is earmarked for exports, particularly to Western European markets.

The car parts segments maintained positive performance in 2013. The value of sold production reported by car part manufacturers increased by nearly 10% year on year last year, accelerating from the 2.7% year on year rise in 2012, market data show. The car parts and accessories segment accounted for 55.3% of the automotive sold production value from January to September 2013, compared to 53.8% in full-year 2012. Furthermore, the year on year higher exports of cart parts and accessories drove the overall automotive external deliveries upwards on an annual basis in 2013, after the decline recorded in 2012.

The Polish car market continued to perform above the EU average. (In 2013, the EU car market recorded a 1.7% year on year decrease to 11.8mn units, the sixth consecutive year of decline.) The number of new registrations will likely continue rising in 2014, propped up by the improving macroeconomic environment and branch developments. Demand is expected to rise visibly in the first months of 2014, encouraged by the derogation window that allows the purchase of passenger cars with full VAT subtractions for corporations.

Key Points:

• In corporate news, car manufacturer Fiat Auto Poland reported a 15% year on year decline in production in its Tychy plant in 2013, on the back of the discontinuation of the production of Fiat Panda model in Poland.

• US-based tire group Goodyear acquired a 4.99% stake in Polish tire maker Debica SA from PZU FIZ Aktywow Niepublicznych Bis, thus increasing its share in the company to nearly 81.4%.

• German carmaker Volkswagen is reportedly considering building a new plant in Poland to assemble the Crafter large delivery van.

• General Motors will invest EUR 250mn in a project aimed at producing four-cylinder engines in its Tychy plant.

• The number of new passenger cars registered in 2013 increased by 6.3% year on year, returning to the positive area for the first time in the past three years.

Table of Contents

Executive summary
1. Market overview
1.1 Motor vehicle output slows down y/y decline in 2013
1.2 … And is expected to start recovering in 2014
1.3 Automotive sold production value projected to rise 4.4% y/y in 2014
1.4 Car part producers report nearly 10% y/y increase of sales in 2013
1.5 Automotive exports return in positive area, driven by car part segment
1.6 Imports of used cars advance 8.3% y/y in 2013
1.7 New passenger car registrations increase y/y for first time in three years

2. Corporate news
2.1 Fiat Auto Poland reports 15% y/y decline of production in Tychy plant
2.2 Goodyear rises share in tyre maker Debica to 81.4%
2.3 Distributor InterCars aims to maintain double-digit y/y revenue growth in 2014
2.4 Bus producer Solaris reports higher y/y sales in 2013
2.5 Volkswagen reportedly mulls building new factory in Poland
2.6 GM to invest EUR 250mn in Tychy engine plant
2.7 US-based seating system solutions provider Camaco acquires Polish plant
2.8 Voestalpine to build second automotive component plant in Poland

3. Statistical appendix

Table 1 Automotive industry and GDP in 2005-2012 (PLN mn, annual)
Table 2 Manufacture of parts and accessories for motor vehicles- Selected indicators in 2012-2013
Table 3 Motor vehicles exports in 2005-2013 (units, y/y)
Table 4 First registrations of imported used passenger cars in 2009-2013, split by brand (thou units)
Table 5 First registrations of new passenger cars in 2012-2013 (number, y/y)
Table 6 DEBICA S.A. (TC Debica S.A.)- Selected financials in 2011-2013 (PLN thou)
Table 7 INTER CARS S.A.- Selected financials in 2011-2013 (PLN thou)
Table 12 Production of passenger cars in 2008-2013 (thou units, monthly, annually)
Table 13 Exports of parts and accessories for motor vehicles in 2008-2013 (volume, value)
Table 14 Exports of vehicles and parts by type in 2006-2013 (PLN bn, y/y)
Table 15 Imports of used passenger cars in 2010-2013 (number, y/y)
Table 16 First registrations of new light commercial vehicles up to 3.5t in 2012-2013 (number, y/y)

Figure 1 Motor vehicle, trailer and semi-trailer manufacturing- Industrial production value in 2005-2012 (PLN mn, annual)
Figure 2 Production of passenger cars in 2008-2013 (thou units, annually, y/y)
Figure 3 Motor vehicle production in 2002-2013 by type (thou units, annually)
Figure 4 Motor vehicle production- Selective indicators in 2003-2017f (USD bn)
Figure 5 Sold production value for motor vehicles, trailers and semi-trailers manufacturing in 2008-2013 (PLN bn, monthly)
Figure 6 Sales structure of Polish automotive sector in 2012-2013 (% of total)
Figure 7 Value of sold production in automotive manufacturing in 2008-2015f (PLN bn)
Figure 8 Motor vehicle body manufacturing in 2003-2016f (USD mn)
Figure 9 Motor vehicle parts manufacturing in 2003-2016f (USD bn)
Figure 10 Exports of parts and accessories for motor vehicles in 2008-2013 (volume, value)
Figure 11 Major export destinations for motor vehicles for the transport of persons in 2012, by volume (% of total, pieces)
Figure 12 Major export destinations for car parts and accessories in 2012, by volume (% of total, tons)
Figure 13 Major export destinations for motor vehicles for the transport of goods in 2012, by volume (% of total, pieces)
Figure 14 Exports of vehicles and parts by type in 2005-2013 (PLN bn)
Figure 15 Imports of used cars by age structure in 2013 (%)
Figure 16 Imports of used passenger cars in 2004-2013 (number, annually)
Figure 17 Fiat Auto Poland- Domestic sales by car brand in 2013 (% of total)
Figure 18 Fiat Auto Poland- Major export destinations for Fiat, Abarth, Lancia in 2012-2013 (units)
Figure 19 EU countries- First registrations of passenger cars in 2012-2013 (number, annual)

Number of pages: 19
Release Date: Tue, 04 Mar 2014