LatinNews Daily - 11 May 2022

In brief: Vehicle production down in Brazil

* Brazil’s national association of vehicle producers (Anfavea) has warned that a global shortage of semiconductors, combined with the economic impact of the war in Ukraine, caused the number of vehicles manufactured in Brazil from January-April to fall by 13.6% year-on-year. However, Anfavea noted that there were signs that the sector was rallying in April, when 185,400 vehicles were produced – an increase of 0.4% on March, but still down 2.9% on April 2021. Anfavea’s president, Márcio de Lima Leite, said that production was principally being restrained by the semiconductor shortage, noting that “despite inflation and the hike in interest rates, we’re still seeing repressed demand from individual clients and particularly from rental companies.”

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