São Paulo – Year-to-date through November saw 2.53 million vehicles sold in Brazil, up 8.3% from a year ago. November sales came out to 242,300, down 4.4% from October and up 4.9% from November 2018. The numbers were made public this Thursday (5) by the National Motor Vehicle Manufacturers Association (Anfavea).
Vehicle production was up 2.7% through November to 2.77 million units. In November from October, output was down 21.2% to 227,500 units. Year-on-year in November, production was down 7.1%.
Vehicle exports slid 33.2% through November to 399,200 units sold. November saw a 7.9% drop in exports to 34,400 units.
Anfavea president Luiz Carlos Moraes said the numbers confirm expectations regarding 2019. “We’ve had growth of almost 9% so far this year, and the trend is expected to stay in place in December, in an indication that domestic sales could reach 2.8 million vehicles, up 9.1%.”
Regarding 2020, Moraes believes sales could go up, seeing as Gross Domestic Product (GDP) is expected to increase by 2% to 2.5%, with inflation under control and lowering interest rates, while banks are prone to give loans and delinquency levels should remain in check.
“We don’t see a major increase in exports happening in 2020. Argentina is our biggest market, and the scenario there is still complex, with high inflation, high interest rates, a new administration coming in. We’ll probably see exports remain level in 2020.”
Translated by Gabriel Pomerancblum