Auto parts manufacturers in Romania see their losses soar by 142%
Hit by production slowdowns during the pandemic, Romania’s auto parts industry is also feeling the effects of broken supply chains and rising energy and production costs. This results in deterioration of performance indicators, such as an increase in net losses and a decrease in the number of employees.
If in 2020 there were 79 companies manufacturing auto parts in Romania, last year this number fell to 71. The number of employees in the whole sector has also decreased, from just over 64,000 to around 59,000. Turnover increased slightly to RON 22.4 billion (EUR 4.46 billion) from RON 21.9 billion in 2020.
Importantly, the sector’s net losses more than doubled from RON 131 million in 2020 to RON 318 million last year.
Robert Bosch, Hella Romania and Continental Automotive Systems lead the ranking of the most important Romanian manufacturers of automotive parts and electric and electronic motors, according to National Trade Register data cited by Economedia.
The leader, the German brand Robert Bosch, achieved a turnover of RON 4.8 billion in 2021, compared to RON 3.9 billion the previous year. The company also recorded more than RON 115 million in profit, managing to increase sales despite the difficult economic environment.
Hella Romania, with a turnover of RON 3.5 billion, also recorded profits totaling nearly RON 87 million last year.
Thirdly, the Romanian subsidiary of the global company Continental Automotive recorded losses of more than RON 244 million last year. In 2020, the company recorded profits of more than RON 87 million and had more than 7,000 employees. Last year, Continental roughly halved its number of employees in Romania.
(Photo credit: Alexander Khitrov | Dreamstime.com)