São Paulo – Brand new vehicle sales in Brazil climbed 25.6% year-on-year in October to 257,700 units, the National Motor Vehicle Manufacturers Association (Anfavea) reported this Wednesday (7). It was the best result for an October since 2014, and the best of any month since December 2014.
Year-to-date through October, 2.1 million vehicles were sold in the country, up 15.3% from a year ago. Anfavea president Antonio Megale believes the industry will outdo the 13.7% whole-year sales growth forecast. In 2019, he envisions the possibility of double-digit growth.
Exports slid by 37.3% year-on-year to 38,700 units, grossing USD 971 million, down 33.5%.
Year-to-date through October, 563,000 units got shipped from Brazil, down 10.9% from a year ago. Export revenues reached USD 12.8 billion, down 2.3%.
Foreign sales are slumping as a result of the economic crisis in Argentina. The Anfavea president said carmakers are trying to offset that through Brazil’s bilateral agreements with Chile and Colombia.
Translated by Gabriel Pomerancblum