Brazil's National Association of Automotive Vehicle Manufacturers, ANFAVEA said that the 2021 market had a significant improvement to the critical production level of 2020, but was still short of the potential of the industry both in domestic and foreign markets. Nevertheless, Brazilian exports of automobiles reach US$ 7,6 billion.
Brazil's Association of Automotive Vehicle Manufacturers, ANFAVEA announced that export expectations for 2021 should reach 389,000, a significant increase over the previous estimate of 353,000. Furthermore, overseas sales will stand at 20% over the 2020 figure.
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.
Automobile production in Brazil jumped 14.2% and sales grew 9.1% in July from June, the best performance for the month since 2014, the national automakers’ association Anfavea said on Tuesday.
Brazilian vehicle exports to Argentina are expected to plunge this year, and the industry could face threats from rising imports following a free trade agreement between the European Union and Mercosur, a major industry body said.