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LatinNews Daily - 09 August 2021

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In brief: Brazil’s vehicle production falls

* Brazil’s national association of automobile manufacturers (Anfavea) has announced that vehicle production fell for the second month running in July, bringing the stock of vehicles in factories and dealerships to the lowest level in two decades. Anfavea recorded total production of 163,600 units in July, down 2% on June production levels and down 4.2% on a year earlier. It was the worst production performance for the month of July since 2003. Anfavea attributes this slump to a global shortage of semiconductors. “There is internal and external demand for a larger volume of vehicles, but unfortunately the shortage of semiconductors and other materials has prevented the industry from producing all that is being demanded”, Anfavea president, Luis Carlos Moraes, said. According to Anfavea, domestic sales fell 3.8% in July compared with June, while exports plunged 29.1%.