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LatinNews Daily - 07 July 2020

In brief: Brazil’s vehicle production plummets amid pandemic

* Brazil’s national association of vehicle manufacturers (Anfavea) has warned that lockdown measures taken to contain the coronavirus (Covid-19) pandemic caused Brazilian vehicle production to plummet in the first half of 2020. Total production between January and June was down by 50.5% compared with the same period in 2019, although there were some signs of recovery in June, when production increased by 129.1% month-on-month. Despite this, vehicle production this June was down 57.7% compared with June 2019. The production of heavy vehicles was less severely impacted than the automobile sector, partly due to a good agricultural harvest, and shrank by 37.2% compared with the first half of last year. Anfavea predicts a 45% decline in total automotive production in 2020, with a 40% decrease in domestic sales and a 53% drop in exports year-on-year, with 200,000 units forecast to be exported. Anfavea’s president, Luiz Carlos Moraes, has warned that the vehicle manufacturing sector may not fully recover until 2025, warning that “a setback of this scale will have long-lasting impacts”.

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