Brazilian automotive industry sees production surge contrasted with dropping exports
Jul, 10, 2023 Posted by Gabriel MalheirosWeek 202328
After the first half of 2023, the Brazilian automotive industry has been a modest recovery in production and sales compared to the same period in 2022, leading the National Association of Motor Vehicle Manufacturers (ANFAVEA) to maintain its initial projections. The production of 1.132 million vehicles from January to June represents a 3.7% increase from one year ago.
However, the export market tells a different story. After two years of increasing sales abroad, shipments have declined this year. In the first six months of 2023, 227.2 thousand vehicles were exported, compared to 246.3 thousand in the first half of 2022, reflecting a 7.7% decrease. The crisis in Argentina, Brazil’s largest trading partner, along with the contraction of key markets like Colombia and Chile, has adversely affected the performance of Brazilian manufacturers in foreign trade.
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