LatinNews Daily - 10 October 2022

* Brazil’s national association of vehicle manufacturers (Anfavea) has announced that Brazil’s vehicle production grew year-on-year in September, although it contracted when compared with the previous month. A total of 207,800 vehicles were produced in Brazil last month, up 19.3% year-on-year, but down 12.7% on August, partly due to the smaller number of workdays in September. Brazil’s car exports also fell by 39% in September compared with August, due to logistical problems, restrictions on sales to Argentina, and an increase in taxes on exports to Colombia. Brazil’s vehicle production increased in Q3, when 665,000 vehicles were manufactured in the country, up 11.6% on Q2. “[Q3] represented one more important step in the recovery of Brazil’s automotive market this year, after a timid Q1 due to the lack of electronic inputs and a Q2 marked by the beginning of an improvement,” Anfavea wrote in a press note.

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