(MENAFN) On Friday, Jan. 8, the National Association of Vehicle Manufacturers (Anfavea) announced, Brazil's automobile output declined by 31.6 percent in 2020 in comparison with the previous year, whereas exports dropped by 24.3 percent due to the novel COVID-19 pandemic.
Brazil, Latin America's biggest economy, manufactured 2,014,055 automobiles and exported a number of 324,330 units in 2020, in comparison with the previous year, when it manufactured 2,944,988 automobiles and exported 428,208.
Anfavea stated that the drop to 2016 levels shifted Brazil from eighth to ninth place amongst the biggest automobile producers in the world, as it was surpassed by Spain.
Anfavea President Luis Carlos Moraes stated in a video symposium: "last year, we faced Argentina's currency crisis in exports, but for 2021, we expect greater demand from other South American markets such as Colombia, Chile and Peru."
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