To guarantee supply and quality standards, the industry is looking for companies manufacturing in Europe and which are self-sufficient
The aftersales sector is a highly developed and globalised sector which, despite the pandemic, has managed to keep afloat and generate an economic growth. Spain is Europe’s fourth largest manufacturer of automotive parts and one of the leading ones worldwide. An example of Spain’s success cases is the Navarra company Seinsa Corporation, Europe’s leading manufacturer of products for transmission, steering, suspension and brake systems. The company closes the year with a 30% growth from previous year and having managed to multiply by three the exports to the U.S. and Mexico: “We have a very positive evaluation of this year-end results and we expect an even better year in 2022, setting a goal to reach a 40 million turnover”, explains José Antonio Espinosa, CEO of Seinsa Corporation.
The auto parts sector is a booming industry, a driving force for economic growth and employment, creating over 10% of the jobs in the manufacturing industry. A success example is the Spanish company Seinsa which had set a goal for a 20% growth in 2021 and has actually surpassed it by 10%. The company credits the growth to the supply crisis which they used to their advantage, and to their high investment in innovation, claiming that “innovation marks the only path to leadership”.
The pandemic has also created a change of pattern where clients are moving away from the Asian market and looking for manufacturers located in Europe: “We know that the future of the sector and of our economy goes through offering a quality European product, locally manufactured, like our own, and not dependant on other markets”. Besides, this past year has shown the interest of many European companies in working exclusively with suppliers that work applying sustainability criteria, this is not just manufacturing new parts but remaking the old ones: “At Seinsa we make our goal to supply to those sustainable companies, because they play a very important part in the future of the spare parts market”, explains José Antonio Espinosa.
SEINSA has a new product launch set for early 2022, coinciding with their 50th anniversary, it focuses on braking products and it will qualitatively increase the range of products in their existing catalogue which already has over 16,000 references.
A EUROPEAN MODEL BASED ON PEOPLE
SEINSA Corporation has an expansion plan for a 40% growth in the next three years, increasing its annual sales volume, which reached 30 million euros in 2020, despite and against the foresight for the automotive industry in general. 98% of the company’s sales are from exports to 85 countries.
The company has been established as a pioneering company in Spain for the developing of the European business excellence model and it has made available for the whole automotive industry their methodology to manage and counteract the crisis.
In 2002, SEINSA was granted the European EFQM Award for quality control and in 2005 it opened a new manufacturing plant in Chennai (India), which has allowed the company to enter new markets, mainly in the U.S.A.
In 2020, SEINSA was recognised by the Basque Innovation Agency INNOBASQUE as the most innovative business leader.