Back

LatinNews Daily - 08 January 2020

In brief: Brazil’s automotive sector set to grow in 2020

* Brazil’s national association of vehicle manufacturers (Anfavea) has presented the industry’s 2019 results, according to which the country has now established itself as the sixth largest market for automotive vehicles globally. Domestic sales and production of automobiles increased 8.6% and 2.3% respectively from 2018 to 2019, with December 2019 recording the highest numbers of vehicle registrations for that month since 2014. The increase in production has been driven by domestic demand, as exports in 2019 fell by 31.6%, a consequence of the crisis in neighbouring Argentina. The Anfavea expects the sector to continue growing in 2020 despite falling exports (projected to decrease a further 11%), thanks to a forecast 9.4% increase in domestic sales.

End of preview - This article contains approximately 118 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.