Thursday, December 4, 2014

Brazil: ANFAVEA Reports Auto Production Down 15.5% in First 11 Months of 2013

According to The Latin American Tribune, auto production in Brazil totaled 2.94 million vehicles between January and November, down 15.5% from the first 11 months of 2013, the ANFAVEA industry group said Thursday (December 4).

November output came in at 264,800 vehicles, a decline of 9.7% compared to both October (293,300) and November 2013 (293,200), according to the automotive industry trade association.

Exports in November totaled 25,971 vehicles, up 10.5% from October but down 42.6% from the same month of 2013.

For the year’s first 11 months, exports fell 40.6% to 310,781 vehicles due to a drop in demand from Argentina, the destination for 90% of automobiles that are made in Brazil and shipped abroad.

COMMENT: “In November, the Argentine market purchased 38,000 units, compared to 61,000 in the same month of last year, a decline of nearly 38%. That drop affected the result,” ANFAVEA President Luíz Moan said.

A total of 294,700 vehicles were sold last month, a 4% decline from October and a drop of 2.7% from November 2013, the industry association said.

More than 3.1 million vehicles were sold between January and November, down 8.4% from the same period of 2013.

Vehicle manufacturers say sales for all of 2014 will be down 5.4% year-on-year, although the decline could be even greater depending on December’s results.

The ANFAVEA president, however, said he expects better industry results in 2015.

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