Brazil’s vehicle exports plummeted by 23% in November, a significant drop from the previous month’s total of 31,276 units to 24,068.
This decline also marked a 44.6% fall compared to last year’s month.
The National Association of Automotive Vehicle Manufacturers (Anfavea) released these figures in their recent report.
The decrease stems from reduced demand in Chile and Colombia, where Brazil usually exports many vehicles.
Additionally, Brazil’s auto industry lost ground in Argentina, a key market now focusing more on local production.
Anfavea’s president, Márcio de Lima Leite, highlighted a missed opportunity in Argentina.
Brazil could have exported 95,000 vehicles, but Argentinean demand for Brazilian cars has weakened.
In 2021, 49% of vehicles sold in Argentina were from Brazil; now, it’s only 27%.
Meanwhile, Brazil’s overall vehicle production slightly increased by 1.5% in November, reaching 202,675 units.
However, this was still 6.1% lower than in November of the previous year.
The car segment was the only one to see growth in production, increasing by 3.9% to 155,517 units. But, exports of cars dropped by 31%.
Light commercial vehicle production went down by 5.9%, totaling 35,241 units. Their exports, however, rose by 9.1%.
Truck production fell by 4.3%, with just 10,030 units made. Truck exports also decreased, by 15.4%.
Bus manufacturing suffered the most, dropping 10.1% to 1,887 units. Interestingly, bus exports saw a small increase of 1.2%.