São Paulo – The National Motor Vehicle Manufacturers Association (Anfavea) estimates that new vehicle sales will climb by 9.4% in 2020, to 3.05 million cars, light commercial vehicles, trucks and bus. Last year, 2.79 million were sold.
“[Growth] is still slow but we’re seeing some signs, and this may help consumption to take up,” said Anfavea president Luiz Carlos Moraes this Tuesday (7) in São Paulo.
Exports, however, are expected to drop. In 2020, they should reach 381,000 vehicles, from 428,000 last year.
“We’re more conservative about exports. We don’t see it taking up in the short term,” he added, arguing that Brazil “relies heavily on Argentina [market]” regarding foreign sales, and the neighboring country is undergoing an economic crisis.
Moraes believes Brazil has a chance to establish itself as the world’s sixth largest automotive market this year. If it advances in the ranking, where it’s now in the eight position, it’ll surpass France and the United Kingdom.
Regarding production for this year, the volume is expected to reach 3.16 million units. In 2019, the plants manufactured 2.94 million vehicles.
In the agricultural and road machinery sector, domestic sales are expected to go up by 2.9%, while exports can increase by 1%.
Translated by Guilherme Miranda
