Brazil’S Vehicle Production In August Hits Highest Level Since 2019

(MENAFN- The Rio Times) In August, Brazilian automakers manufactured 259,613 vehicles, a 5.2% rise from July's 246,721.

This is the highest output since October 2019, before the COVID-19 pandemic hit. Compared to the same month last year, production jumped by 14.4%, as reported by the National Association of Motor Vehicle Manufacturers (Anfavea) .

On the export front, numbers dipped slightly by 2.2% from July, totaling 38,225 units shipped overseas.

Despite this slight monthly decrease, the annual comparison shows a 10.6% increase from last August's 34,548 vehicles.



Domestic sales saw a minor decline, with 196,757 vehicles sold, a 1.6% drop from July.

Truck production, however, tells a story of robust growth: 13,101 trucks were made, showing a 10% monthly increase and a substantial 36.1% rise year over year.

Bus production decreased by 1.8% this month but grew by 5.3% compared to last year.

The imported vehicles segment remained strong, with 40,625 vehicles licensed despite a 1.6% decrease from the previous month. This sector still showed a healthy 20.1% growth over the previous year.

These trends highlight the automotive sector's critical role in Brazil's economy, reflecting resilience and potential for growth in the post-pandemic landscape.

The industry's recovery not only supports the domestic economy but also impacts global trade dynamics, emphasizing the interconnected nature of today's automotive industry.

Brazil's Vehicle Production in August Hits Highest Level Since 2019

MENAFN05092024007421016031ID1108642246