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“Portugal needs to make itself known with car manufacturers” – ECO

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"Portugal needs to make itself known with car manufacturers" - ECO

The automotive industry accounts for 7.4% of Portugal’s GDP and employs 90,000 workers. However, the ecological transition may create inconveniences for this cluster.

On September 5 and 6, the future of the automotive industry will be discussed at a conference organized by Mobinov. The association, which brings together car factories, parts and trade, is concerned about the results of the energy, digital and demographic transition. and doesn’t want Portugal to be left behind.

In an IVF interview President Mobinov asks the state to help companies attract new investments For the country. Jorge Rosa also highlights the need to develop a sector that directly employs 90,000 people, accounts for 7.4% of GDP and generates an annual turnover of 15 billion euros, “of which 99% is exported.”

He recently said that “in the short and medium term, we will have the sector that the state allows us.” think that cluster Is the car well received in Portugal?

All in all, the automotive sector has received a lot of attention from the Portuguese government and was heard whenever he asked. Of course, the sector wanted more: it needs to scale and another dynamic. Of course, requires state and government support. That’s why we always pay more attention to lenders.

What kind of automotive sector can we have with and without state financial support? What will be the main differences?

Problems aheadwith the energy, digital, environmental and demographic transition, in addition to the need to have people in quality and quantity huge and require special attention from the state. Our industry needs this support.

In addition to financial support, which is very important in a number of areas, I would say that there is promotion of the sector outside and among the main automakers. The role of the state is also very important here. Portugal needs to make itself known with car manufacturers and it should be part of the sourcing strategy that is rethinking the entire value chain today in the face of the challenges that the recent disruption of war has brought to the sector. Portugal sees in this, in our opinion, an excellent opportunity, being located in Europe, being a country relatively close to the center of the continent and next to the second European car manufacturer (Spain). Approval abroad relies heavily on companies to present themselves to manufacturers, but it also lacks government support.

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This is, for example, what has already been done this year at the trade fair in Hannover., where there were many producers and where the Portuguese government has clearly shown support for the sector. These kinds of actions and others even more powerful can promote our industry abroad to scale up domestically.

Portugal must assert itself with car manufacturers and must be part of the brand supply strategies that are today rethinking the entire value chain in the face of the challenges that the recent disruption of the war has brought to the sector.

George Rose

Chairman of the Mobinov Automotive Cluster

Did the presence of Portugal influence Hannover Messe?

The reactions we have received from participating companies are very pleasing because they have been approached many times. But we still don’t have concrete data on already closed deals.

The emergence of a new car plant is also always an industry ambition. and here the government plays a fundamental role in attracting new investment. However, installed capacity in Europe exceeds demand. These are considerations that must be taken into account by manufacturers.

The lithium cycle is also important to us: Batteries are a fundamental component and will be critical to the future of the automotive industry in the short term.. After the installation of lithium, a discussion arose about the lithium cycle and the possibility of extracting it, as well as the possibility of producing elements in Portugal for supply to strong markets such as Spain, which would be a very important factor for the development of a new area in which we will inevitably have to deal.

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We are approaching the end of 2022 and there are no plans to mass-produce an electric car in Portugal yet. Are we in danger of falling behind in the automotive industry?

The risk naturally exists. AT cluster we do not have information about every car factory in Portugal, but we know that everyone is working to get electric models in Portugal and I believe it will. Each of the installed plants will have an electrical solution in the very near future, I have no doubt about this, although this has not been officially reported.

With the transition of the automotive industry, are there conditions for the creation of new jobs, or is it a priority to preserve existing ones?

The main priority is to keep jobs, but we want it to be able to grow. Having about 8% of Portugal’s GDP would be very important.

Batteries are a fundamental component and will be critical to the future of the automotive industry in the short term. After the installation of lithium, a discussion arose about the lithium cycle and the possibility of extracting it, as well as the possibility of producing elements in Portugal for supply to strong markets such as Spain, which would be a very important factor for the development of a new field in which we will inevitably have to deal with

George Rose

Chairman of the Mobinov Automotive Cluster

Is it possible to save a job if fewer parts are required to produce new cars?

This is true, but there are other possibilities, such as the lithium cycle. But a car will always have tires, a chassis, stamped parts, upholstery… we are all naturally concerned, but transitions are both a risk and an opportunity. We must be able to seize opportunities, and I am sure that we are working in this direction.

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What will be the role of the car in the future of society, given, for example, restrictions on access to cities?

Clearly, cars, which account for a significant portion of greenhouse gas emissions, are always targeted. The attempt to reduce the number of cars worries everyone who runs large cities. Of course there is a risk of reduction [de produção] because mobility in cities will increasingly be carried out using public transport. But so far there is no research showing a massive reduction in the number of cars in cities. If yes, then the main reduction in the number of cars will be in Europe.

Can hydrogen be used in modern internal combustion vehicles while reusing existing fleets?

There are studies in this direction and there are technical possibilities, although there is still little maturity. Hydrogen as a fuel is ideal for long-distance transportation. and there will be the next passage on the tram.

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Economy

Is your loan reviewed in October? Get ready. Installment increase can be up to 45%

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Is your loan reviewed in October?  Get ready.  Installment increase can be up to 45%

Euribor rates rose sharply in September and will severely penalize those whose mortgages are renegotiated next month. View simulations

October should be a month of pleasant surprises for most Portuguese. Most of them will receive 125 euros in state support to cope with the effects of inflation. Those with children under the age of 24 will receive 50 euros for each child. And pensioners will receive a supplement equivalent to 50% of their pension.

But October has other surprises to consider financially. These are not at all positive. For many, gas and electricity prices will rise. And the Portuguese with mortgages, whose contracts will be renegotiated next month, are in for the worst of the unpleasant surprises: their house down payment will increase significantly.

This is because the overview of the contracts of those with a home loan is based on the average of the respective Euribor for the previous month, which it uses as an index. And in September, both the three-month-old Euribor, and the six-month-old, and the 12-month-old Euribor behaved the same way: they grew a lot. This is, in fact, the first time that the effect of positive euribor rates will be felt. This leads to an increase in the payment in October, which may exceed 200 euros.

But the bad news doesn’t end there, as these values ​​are expected to continue rising in the coming months. This is because the Euribor rates are closely linked to the changes in interest rates made by the European Central Bank, and this Wednesday the body controlled by Christine Lagarde. gave an indication of a new increase in October, which may reach even 0.75 points.

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Increases from 95 to 200 euros

Contracts indexed to the six-month Euribor, which make up the largest share of home loans in Portugal, will for the first time feel the impact of the rate in positive territory, where it has remained since June 6. And this is the second review this year.

This means that for a loan of 150 thousand euros for 30 years with a spread of 1% and an average Euribor rate for September, the monthly payment will be 600.51 euros, which is 146.44 euros more than has been paid since the last loan review. . Corresponds to an increase of 32%.

The six-month average Euribor rose from 0.466% in July to 0.837% in August, and in September it stands at 1.596%. The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 6 months

pays

454.07

go pay

600.51

Increase

146.44

Those who have contracts indexed to 12-month Euribor and who will experience an increase in interest rates for the first time in 2022 will experience a larger increase. Since the contract is renegotiated from year to year, its holder will have to pay plus 201.72 euros in installments at home when you have to deliver 651.16 euros to the bank. In the last 12 months I have paid 449.44 euros. Corresponds to a 45% increase.

After soaring to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been above 0% since April 21. Its average also rose from 0.992% in July to 1.249% in August. And in September, the average figure is already at the level of 2.33%.

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installment in October

150 thousand euros, 30 years, spread 1%

Euribor 12 months

pays

449.44

go pay

651.16

Increase

201.72

On the other hand, in contracts indexed to the three-month Euribor, the effect will be smaller, but closer to one hundred euros. The amount will rise to 561.96 euros, which is 95 euros more than in July. The increase corresponds to an increase of 21%.

This year, this is the third upward revision of this type of contract, they were paid another six euros in April and another 17 euros in July.

The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months). The three-month average Euribor rose from 0.037% in July to 0.395% in August and currently stands at 1.011%.

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 3 months

pays

466.10

go pay

561.96

Increase

95.86

Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine.

Christine Lagarde thinks the ECB needs to act “whatever you can do” return “inflation to 2% in the medium term,” the ECB president stressed at an event in Frankfurt this Wednesday.

According to Lagarde, if the bank does not go for a new increase in interest rates, the consequences for the economy will be more serious than the increase in the cost of credit. “Our goal is not to slow down growth, our main goal is to ensure price stability. This is what the ECB needs to achieve,” he added.

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Economy

mango. If you want to buy this set, you must be on the waiting list.

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mango.  If you want to buy this set, you must be on the waiting list.

HAda is more elegant than the “set of twins”. With just two parts, you can create an image without spending a lot of money and get an elegant result. And we’re not the only ones who think so, at least given the virtual queue created for the Mango suit, one of the most coveted sets of the season.

Read also: I had no time! One of the most coveted dresses has arrived at Mango Outlet

Sweater and pencil skirt in chunky jersey with lozenges are perfect for any occasion. It reveals both a more practical side when worn with sneakers, and a more elegant side with high boots or ankle boots.

Read also: Follow fashion trends with these six pieces of clothing.

The two parts are part of the Committed collection. This means that they have been produced using fibers and/or sustainable manufacturing processes that help reduce environmental impact.

Both are available in XSS and XXL sizes. The sweater costs €35.99 and the skirt €29.99. Invoices made gives a total of 65.98 euros.

Check out the gallery above!

Read also: Start Saving Now For These 35 Cozy Things You’ll Want To Buy

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Economy

House fees will rise from 89 to 202 euros in October for contracts with Euribor.

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House fees will rise from 89 to 202 euros in October for contracts with Euribor.

An enterprise simulation shows that a client with a loan of 150 thousand euros, for a period of 30 years, indexed to Euribor for six months and with a “spread” (bank profit margin) of 1%, starts paying from October 600.20 euros, which 146 euros more than the last review in April.

In the case of a loan with the same conditions (amount and maturity), but indexed to a three-month Euribor, the client will pay 555.25 euros, which is 89.08 euros more than in July this year.

Finally, for loans indexed to the 12-month Euribor, the mortgage payment on the loan under the above conditions will be 651.41 euros, which is 202.10 euros more than in October last year.

These values ​​have been calculated using September averages of Euribor of 1.596% for six months, 1.011% for three months and 2.233% for 12 months, according to Deco.

Today, on the last day of September, the Euribor rates rose to three and six months and fell to 12 months compared to Thursday.

The six-month Euribor rate, most commonly used in Portugal for home loans and entering positive territory on June 6, rose to 1.809% today, up 0.009 points, after rising to 1.858% on Wednesday, the highest since January 2009. .

The 3-month Euribor, which hit positive territory for the first time since April 2015 on July 14, also edged higher today when it was set at 1.173%, climbing 0.013 points after rising to 1.228% on September 27, a new high. since January 2012.

On the other hand, in 12 months, Euribor fell today, for the third time since September 9, when it was set at 2.556% minus 0.022 points against 2.625% on September 27, a new high since February 2009.

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Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) acknowledged that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine. 24 February.

On September 8, the ECB raised three key interest rates by 75 basis points, the second consecutive increase this year, as it raised three key interest rates by 50 basis points on July 21, for the first time in 11 years. the purpose of curbing inflation.

At the end of the last meeting, ECB President Christine Lagarde said that a historic 75 basis point hike in interest rates was not “the norm”, but stressed that the evaluation would be carried out from meeting to meeting.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates were the lowest ever, respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor is set on the basis of the average rate at which a group of 57 Eurozone banks are willing to lend money to each other in the interbank market.

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