São Paulo – Brazilian auto industry exports fared well again in August, with revenue reaching USD 1.46 billion. The result is up 58.2% from August 2016 and 3.3% from July 2017, the National Motor Vehicle Manufacturers Association (Anfavea) said this Wednesday (6).<\/p>\n
Year-to-date through August, automobile and agricultural machinery manufacturers in Brazil grossed USD 10.272 billion, up 53.2% from a year ago. <\/p>\n
August saw roughly 66,600 units shipped abroad from Brazil, up 61.7% year-on-year and 1.6% in August from July. Year-to-date through August, the industry exported 506,000 vehicles, up 56.1%. <\/p>\n
“This extraordinary growth attests to the companies’ efforts to seek out markets and the improvement of trade agreements with other countries. The industry has shown that it plays a very important role in production. Even as the domestic market recovers, we expect exports to remain at relevant levels,” Anfavea chairman Antonio Megale told Agência Brasil<\/em>.<\/p>\n Domestic sales came out to 1.42 million units year-to-date through August, up 5.3% year-on-year. In August alone, roughly 216,500 vehicles were sold in Brazil, up 17.2% from July and 17.8% from August 2016. <\/p>\n Industry output was up 25.5% year-to-date to 1.75 million vehicles, and stood at approximately 260,200 units in August, up 45.7% year-on-year and 15.4% over July. It was the highest monthly output since November 2014.<\/p>\n Upward revision <\/strong><\/p>\n As August results came in, Anfavea revised up its whole-year forecasts. Exports are seen reaching 745,000, up 43.4% from 2016, and up 705,000 units as per the previous projection, which would mean a 35.6% increase. The export revenue forecast changed from USD 13.9 billion to USD 15.1 billion.<\/p>\n The domestic sales forecast also changed up, going from 2.133 million vehicles, which would mean a 4% increase, to 2.2 million vehicles, which would entail a 7.3% increase. The output estimate changed from a 21.5% increase to 2.619 million units to a 25.2% one at 2.7 million vehicles made. <\/p>\n Megale said the new forecasts are proof that the industry is on track to a recovery, even though the 2016 numbers are a weak basis of comparison. “What we need now is economic stability so that confidence from consumers and investors can improve and economic activity starts picking up across the country,” a press release quoted him as saying. <\/p>\n *With information from Agência Brasil. Translated by Gabriel Pomerancblum<\/strong><\/p>\n