São Paulo – Vehicle production in Brazil grew 6.7% in 2018 in comparison with 2017. The figure was published this Tuesday (8) by the Brazilian National Association of Automotive Vehicles (Anfavea), according to information from Agência Brasil. From January to December of last year, Brazil produced 2.88 million units.
In 2018, 2.566 million new vehicles were sold, including light vehicles, trucks and buses, a 14.6% growth in comparison with 2017, according to Agência Brasil.
The domestic market boosted the industry, since exports have declined. Foreign sales of vehicles, including farm and road machinery, totaled USD 14.5 billion in 2018, an 8.6% drop over 2017.
Considering only light vehicles, trucks and buses, the shippings dropped 18% in the last year over the year before, amounting to 629,175 units. The exports of these segments yielded USD 11.14 billion, a 13.2% drop in the same comparison.
The foreign sales were affected by the economic crisis in Argentina, the main market for Brazilian automobile industry.
Projections
According to information from Reuters agency, Anfavea expects an 11.4% growth in sales of cars, light commercial vehicles, trucks and buses in 2019, up to 2.86 million units. According to the entity’s estimates, the production should grow 9%, up to 3.14 million vehicles.
As for exports, the projection is still for decline, down by 6.2%, to 590,000, also because of Argentine economic crisis, reported Reuters.
Translated by Guilherme Miranda
