São Paulo – Domestic sales of brand new vehicles in Brazil to date this year were the strongest since 2015, partly offsetting weak exports. January to November saw 2.3 million units sold, up from 2.2 million a year ago – a 15% increase. That exceeded the industry’s goal, which was 13.7%.
“We were taken aback by this result. We’re seeing consumers who want to buy and a sales-friendly scenario, since credit is available and delinquency levels are low,” National Motor Vehicle Manufacturers Association (Anfavea) chairman Antonio Megale said.
According to Megale, the crisis in Argentina, which takes in 70% of vehicle exports from Brazil, was one of the reasons exports have fallen short of the target for the year – which was revised down from 700,000 to 650,000 units.
Year-to-date through November, export revenues reached USD 13.8 billion, down 5.2% from a year ago.
Megale also said that until Argentina’s economy rebounds, carmakers are “making an effort” to explore new markets. Talks are ongoing with Chile, Colombia and even Russia, which is interested in purchasing heavy trucks.
From January to November, 2.7 million vehicles were made in Brazil, up 8.8% from a year ago and the best result since 2015.
Translated by Gabriel Pomerancblum