LatinNews Daily - 08 October 2020

* Brazil’s national association of vehicle manufacturers (Anfavea) has welcomed the sector’s production and sales results for September, which were the best of 2020, but noted that they remain well below 2019 levels. Vehicle production increased by 4.4% compared with August, while domestic sales grew by 13.3%, but both indicators fell in annual terms, by 11% and 11.6% respectively. In the nine months to September 2020, vehicle production has accumulated losses of 41.1%, while sales are down 32.3%, a result of the coronavirus (Covid-19) pandemic’s impact on the sector, particularly in the second quarter of the year. Anfavea has somewhat improved its projections for 2020, now expecting vehicle production to total 1.915m units, closing the year down 35% on 2019 (the worst result since 2003); domestic sales to be down 31% (the worst result since 2005); and exports to be down 34%, to the lowest volume since 1999. Anfavea president, Luiz Carlos Moraes, said these forecasts are “a relief” compared with previous projections, crediting measures taken by the federal government for the improved outlook, while noting that the industry will nonetheless see a “dramatic fall” across the board.

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