Brazil’s automobile production is forecast to grow by 7.3pc compared to 2.3pc growth in the prior year, according to Anfavea, Brazil’s National Association of Motor Vehicle Manufacturers. The association predicted rapid growth in both auto production and sales.
Auto production is expected to rise by 7.3pc to 3.16mn units from 2.3pc growth reported in the prior year. Auto sales are projected to rise by 9.4pc to 3.05mn units from 8.6pc increase registered in the prior year.
Exports fell in 2019 by 32pc, amid weakness in global demand and economic crisis in Argentina, in particular. Anfavea predicted a sharply slower rate of export decline at 11pc this year.
Automakers in Brazil manufactured 170,500 new cars and trucks in December, down 25pc from the prior month, while sales totalled 262,600 vehicles, up 8.4pc. For calendar year 2019, auto production increased by 2.3pc to 2.94mn units and sales were up 8.6pc to 2.79mn units.