Brazil’s National Federation of Motor Vehicle Distribution (Fenabrave) reduced its 2021 light vehicle sales growth forecast to 10.7pc from 15.8pc announced in January, citing a shortage of components, especially semiconductors.
Earlier, Fenabrave, in its January report, stated sales volume would reach 2.2 million units in 2021 compared to 1.6 million sold in 2020. However, on Friday, the agency lowered its forecast to 2.16 million cars and light commercial vehicles sales in 2021.
Fenabrave has also revised its car-only sales growth expectation to 10.2pc and 1.7 million unit sales from the earlier prediction of 15.4pc growth and 1.8 million unit sales. In 2020, car-only sales were 1.6 million.
The projection for light commercial vehicle sales growth was lowered to 13.2pc and 379,541 units from the earlier projection of 17.9pc growth and 395,214 unit sales. In 2020, light commercial vehicle sales were 332,269 units.
The global shortage of semiconductors has impacted the production and sales of the Brazilian automotive industry. “Dealers are out of stock for some models and deliveries are dammed, which compromises recovery. That’s why we reduced the growth expectation,” said Alarico Assumpção Jr., President, Fenabrave.