LatinNews Daily - 05 October 2021

In brief: Recovery of Brazil’s automobile sector slows

* Brazil’s national federation of automobile dealers (Fenabrave) has revised down its forecast for the sector’s sales this year, as global shortages of components such as semiconductors have affected the recovery of sales following the impact of the coronavirus (Covid-19) pandemic last year. Overall sales of all vehicles in September fell 4.43% compared with August, and 14.37% year-on-year. This reduction is even more significant for cars and light commercial vehicles, which saw sales shrink 10.19% compared with August and 28.38% compared with September 2020. However, over the first nine months of 2021, overall vehicle sales grew 20% compared with January-September 2020, and Fenabrave is expecting an overall recovery of the automobile sector this year; but it now projects overall sales to close 2021 11.1% above 2020 levels, down from earlier projections of 13.6% in July. 

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