U.S. Spark Plug Import Price August 2022
In August 2022, the average spark plug price amounted to $0.5 per unit, with a decrease of -32.3% against the previous month. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in July 2022 when the average import price increased by 57% month-to-month. As a result, import price attained the peak level of $0.7 per unit, and then fell significantly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($2.1 per unit), while the price for the Czech Republic (less than $0.1 per unit) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Spark Plug Imports
In August 2022, approximately 102M units of sparking plugs were imported into the United States; with an increase of 38% on the previous month. In general, total imports indicated a remarkable increase from January 2022 to August 2022: its volume increased at an average monthly rate of +5.4% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, imports decreased by -22.4% against April 2022 indices. The growth pace was the most rapid in February 2022 with an increase of 54% m-o-m. Over the period under review, imports hit record highs at 131M units in April 2022; however, from May 2022 to August 2022, imports remained at a lower figure.
In value terms, spark plug imports dropped to $46M (IndexBox estimates) in August 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when imports increased by 48% month-to-month. As a result, imports reached the peak of $59M. From April 2022 to August 2022, the growth of imports remained at a lower figure.
U.S. Spark Plug Imports by Country
In August 2022, Russia (47M units) constituted the largest supplier of spark plug to the United States, with a 46% share of total imports. Moreover, spark plug imports from Russia exceeded the figures recorded by the second-largest supplier, Japan (21M units), twofold. the Czech Republic (15M units) ranked third in terms of total imports with a 15% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of volume from Russia totaled +7.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+2.4% per month) and the Czech Republic (+17.2% per month).
In value terms, Japan ($21M) constituted the largest supplier of spark plug to the United States, comprising 45% of total imports. The second position in the ranking was held by Mexico ($8.3M), with an 18% share of total imports. It was followed by Thailand, with a 12% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of value from Japan stood at -2.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-0.5% per month) and Thailand (+8.9% per month).
Source: https://www.indexbox.io/blog/spark-plug-price-august-2022/
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