LatinNews Daily - 10 January 2022

In brief: Timid recovery for Brazil’s vehicle industry this year

* Brazil’s national association of vehicle manufacturers (Anfavea) has released its industry figures for 2021, which confirm the trend observed by the national federation of automobile dealers (Fenabrave): Brazil’s vehicle industry has performed better in 2021 after the difficult year that was 2020, and will continue to timidly recover in 2022. Anfavea president Luiz Carlos Moraes notes that the global shortages in semiconductors shaved an estimated 300,000 units off production levels in 2021. According to Anfavea, Brazil’s production of automotive vehicles increased 11.6% in 2021 compared with 2020 (with the strongest performance in December), while domestic sales increased by just 3%, to 2.12m units. Exports performed more strongly, growing 16% despite restrictions imposed by Argentina (for the first time, Argentine received less than half of Brazil’s automotive vehicle exports - just 34%). For 2022, Anfavea expects vehicle production to grow 9.4% to 2.46m units; domestic sales to grow 8.4% to 2.3m units; and exports to grow 3.6% to 390,000 units.  

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