LatinNews Daily - 03 February 2023

In brief: Brazil’s car sales rise year-on-year

* Brazil’s national federation of automobile dealers (Fenabrave) has released figures on the sector’s performance in January, showing that the issuing of registration plates – a proxy for car sales – increased by 16.3% compared with the same month in 2022. However, car sales were down 26.8% compared with December. Fenabrave’s president, José Maurício Andreta Júnior, said that the monthly decrease reflects a recurring seasonal trend for the automobile sector, while the large year-on-year increase is due to the sector’s recovery from a slump induced by the Omicron wave of the coronavirus (Covid-19) pandemic. Andreta said that the 268,381 vehicles sold this January is therefore “not very different to the average recorded for the month of January over the past five years”.

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