LatinNews Daily - 07 April 2020

* Brazil’s national association of vehicle manufacturers (Anfavea) has highlighted the negative impact that the coronavirus (Covid-19) pandemic had on the industry in the second half of March. Overall, production of automotive vehicles fell 7% in March compared with February, and 21.1% compared with March 2019. Meanwhile, the sale of vehicles fell 18.6% from February to March, and 21.3% compared with March last year. Exports increased 8% month-on-month but fell 18.8% year-on-year. “We had two very distinct moments in March”, Anfavea president Luiz Carlos Moraes noted, explaining that sales were on the rise in the first two weeks of March, before plunging in the second half of the month as the spread of Covid-19 led to the interruption of activity. The Anfavea notes, however, that agricultural and road machinery performed well last month (with a monthly increase of 46% in sales, 19% in exports and 15% in production), as production continued through to the end of the month, and demand was maintained due to harvesting needs. 

End of preview - This article contains approximately 169 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial