Brazilian car production increased by 4.7pc to 238,200 cars in November on an annual basis, according to the country’s Association of Motor Vehicle Manufacturers (Anfavea). The South American country exported 44,007 vehicles last month, Anfavea noted without disclosing figures from last year.
Despite better production volumes, the auto industry in Brazil suffers supply chain issues such as lack of auto parts to manufacture vehicles, due to the continued impact of the COVID-19 pandemic.
In January-November, production tallied at 1.80mn cars, down 35pc compared to the same period the prior year. Currently, the domestic industry’s inventory stands at 120,000 vehicles, which the Association says are enough to maintain sales for only 16 days.
Notably, Brazil’s crude steel output increased by 3.5pc to 2.78mn mt in October, from 2.69mn mt in the same month last year.