* Brazil’s national association of vehicle manufacturers (Anfavea) has revealed new figures on vehicle exports, domestic sales, and production which show that annual exports came to 399,000 units, down 17% from the previous 12-month period. For 2024 Anfavea is forecasting that some 407,000 units will be exported. According to the Anfavea press release, domestic market conditions in export destinations, such as Chile, Colombia, and Brazil’s largest regional trading partner, Argentina, were key factors contributing to the yearly drop. Domestic sales in Brazil are projected to close the year at 2.29m units, which would mark a rise of 8.8% from 2022. For 2024 domestic sales are forecast to reach 2.45m units, which would be up 7% year-on-year. Annual production for 2023 is expected to total 2.36m vehicles, down 0.5% from 2022, while the production forecast for 2024 came in at 2.47m units, which would mark a yearly increase of 4.7%.
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LatinNews Daily - 08 December 2023
In brief: Annual drop in vehicle exports in Brazil
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