MercoPress. South Atlantic News Agency

Car sales skyrocket in Brazil

These results were linked to the expansion of credit, employment, and income, in addition to a significant increase in deliveries to rental companies

Car sales in Brazil went up 21.6% interannually last month, the best performance since 2014, according to a National Association of Automotive Vehicle Manufacturers (Anfavea) report released this week. The document mentioned 264,949 units sold last month alone, a 12.1% growth from September and also the highest monthly sales volume since December 2014.

Also in October, 249,177 vehicles were manufactured, which represented a 24.7% yoy growth and 8.3% against the previous month. In the first ten months of 2024, vehicle production grew 8.9% interannually. Last month, 43,549 units were exported, a 39.2% progress from the same month last year.

Anfavea President Marcio Lima Leite said that in 2024, a total of 369,100 imported cars were sold in Brazil, 36% more in year-on-year terms. In Anfavea's words, vehicle manufacturers have once again recorded sales volumes that were only seen before the pandemic. These results were linked to the expansion of credit, employment, and income, in addition to a significant increase in deliveries to rental companies, which are going through a fleet renewal phase.

According to Anfavea, 967 new jobs were opened at vehicle factories last month.