German automaker Mercedes Benz said this week that it would wind down car production in Brazil, shutting down its small factory dedicated to producing luxury vehicles in the city of Iraccemapolis, costing some 370 jobs.
Brazil's National Motor Vehicle Manufacturers Association (Anfavea), predicts a 40% drop for the sale of the set of new vehicles, composed of cars, light commercial vehicles, trucks and buses in 2020.
Argentina’s industrial output fell 8.8% in April compared with the same month a year ago, official data showed on Wednesday, marking 12 straight months of production losses as the economy struggles with recession and rapidly-rising consumer prices.
Japanese carmaker Nissan is cancelling plans to make the next model of its X-Trail sports utility vehicle in Britain, less than two months before the country is due to leave the European Union, broadcaster Sky News said on Saturday.
Jaguar Land Rover is to extend its annual April shutdown in car production because of uncertainties around Brexit. The UK's biggest carmaker will be idle for an extra week because of fears of disruption at its car and engine plants at Liverpool, Birmingham and Wolverhampton.
BMW and Hyundai Motor urged the U.S. not to impose tariffs on auto imports, joining General Motors Co. in pressing their case to the Commerce Department even as a top aide to President Donald Trump dismissed the concerns as “smoke and mirrors.”
Li Shufu, chairman of Chinese carmaker Geely, is making waves in the global auto market after buying a US$ 9 billion stake in Germany’s Daimler. Li, 54, the son of a farmer from China’s Zhejiang province, has led a major acquisition push globally since 2010, when he took over Swedish car brand Volvo from Ford Motor, US$ 1.8 billion deal.
Brazil's industrial output rose in December at its fastest monthly pace in two and a half years, in a likely one-time boost that did not reverse the sharp losses of one of the worst years on record for local manufacturers.
Argentina's vehicle production reached 50,904 units in June according to the Automobile Factory Association (ADEFA), 19.8% less than the 63,461 units manufactured in the same month of 2013. Taking into account the first 6 months of 2014, production fell 21.8% compared to the same period of 2013.
Argentina and Brazilian officials agreed to continue meeting regularly to solve as soon as possible bilateral trade problems mainly those referred to the auto industry. On Tuesday Argentine Finance minister Axel Kicillof and Industry minister Deborah Giorgi met their Brazilian counterparts, Guido Mantega and Mauro Borges in Brasilia.