Brazil's September auto production down 42.1% compared to a year ago

Wednesday, October 7th 2015 - 10:21 UTC

Full article 8 comments

Domestic sales fell 3.5% last month from August and by 32.5% from the level of September 2014.

Exports slipped 3.2% from August to September, but were still up 28.7% over September 2014.

Brazil’s auto industry produced 174,200 units last month, down 19.5% from August and a whopping 42.1% from September 2014, the national Association of Car Manufacturers, or Anfavea, said on Tuesday.

The 1.9 million motor vehicles that rolled off Brazilian assembly lines between January and September 30 represent a decline of 20.1% compared with the first nine months of 2014, Anfavea said in its monthly report.

Domestic sales fell 3.5% last month from August and by 32.5% from the level of September 2014. Exports slipped 3.2% from August to September, but were still up 28.7% over September 2014.

Foreign sales of Brazilian vehicles have climbed 12.3% since the beginning of 2015, aided by the slide of the Real, which recently touched a record low against the dollar.

Amid the recession, Brazil’s auto sector has taken steps to cut production through reductions in working hours, layoffs and extended furloughs.

Categories: Economy, Brazil.

Tags: Automotive Industry, Brazil, Brazil economy.

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Chicureo
Let me comment in advance for Brazil boy. This is wonderful news for the native non-European peoples of South America as the car companies will be forced to make cutbacks in wages and tax contributions to the Brazilian economy...

Viva Lula and Dilma!
Oct 07th, 2015 - 05:16 pm 0
Tik Tok
And this decline will only continue, congrats to socialism which always manages to balls things up.
Oct 07th, 2015 - 05:47 pm 0
Terence Hill
2 Tik Tok
In general I would be the first to agree but I don't see any specifics, as there appears to be little tinkering in the sense of nationalization. Nor have I found any economists that blame socialist policies for the turndown. The major consensus is underfunding of infrastructure renewal, so there was no prepardness. But that will require a huge investment and the country doesn't have those kind of resources.
This seems to be the only industry.The government of Brazil, under Getúlio Vargas, nationalized the oil industry in 1953, thereby creating Petrobras.
https://en.wikipedia.org/wiki/Nationalization_of_oil_supplies
Oct 07th, 2015 - 09:43 pm 0

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