LatinNews Daily - 08 January 2020

In brief: Brazilís automotive sector set to grow in 2020

* Brazil’s national association of vehicle manufacturers (Anfavea) has presented the industry’s 2019 results, according to which the country has now established itself as the sixth largest market for automotive vehicles globally. Domestic sales and production of automobiles increased 8.6% and 2.3% respectively from 2018 to 2019, with December 2019 recording the highest numbers of vehicle registrations for that month since 2014. The increase in production has been driven by domestic demand, as exports in 2019 fell by 31.6%, a consequence of the crisis in neighbouring Argentina. The Anfavea expects the sector to continue growing in 2020 despite falling exports (projected to decrease a further 11%), thanks to a forecast 9.4% increase in domestic sales.