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LatinNews Daily - 09 November 2021

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In brief: Brazil’s vehicle production remains low

* Brazil’s national association of automobile manufacturers (Anfavea) has released new data showing that vehicle production in October grew by 2.6% compared with September, to 177,900 vehicles. However, in year-on-year terms production slumped 24.8%, with this October’s performance the worst for that month in the last five years. Noting that October is usually a month of strong production with the aim of providing stock for the end of the year, the Anfavea said that ongoing shortages of electrical components continue to affect production. Domestic sales have also slumped, with 162,300 new vehicles sold in October, down 4.7% on September and 24.5% on October 2020. Exports have performed better, with vehicle exports in October growing 26.1% compared with September to 29,800 units, which represented a 14.6% dip compared with October 2020. However, over the 10 months of 2021 so far, exports have grown 26.8% year-on-year, reflecting the early impact of the coronavirus (Covid-19) pandemic in 2020.