Brazil’s January to November Vehicle Sales Rise 8.3 Percent

RIO DE JANEIRO, BRAZIL – Vehicle sales totaled 2.53 million units from January to November, representing an 8.3 percent increase compared to the same period last year. In November, the number of vehicle registrations reached 242,300, corresponding to a drop of 4.4 percent over October and a rise of 4.9 percent over November of last year.

The data were released yesterday, December 5th, by the National Association of Motor Vehicle Manufacturers (ANFAVEA).

Production increased 2.7 percent in the year-to-date, with 2.77 million units leaving the factories. In the comparison between November and October there was a drop of 21.2 percent, and in November 227,500 units were manufactured compared to 288,500 in October. When compared to November of last year the drop was 7,1 percent.

Exports recorded a drop of 33.2 percent in the period from January to November, with the marketing of 399,200 units to foreign markets. In the same period last year, sales abroad totaled 597,500 vehicles. In November, there was a 7.9 percent retraction compared to the same month last year, with the export of 34,400 vehicles.

According to the president of ANFAVEA, Luiz Carlos Moraes, the figures confirm the trend forecast for 2019. “We are growing almost nine percent in the year to date and our expectation is that this trend will be confirmed in December, showing that the domestic market may reach 2.8 million vehicles this year, with a growth of 9.1 percent”.

In relation to 2020 Moraes believes that there may be growth, considering the expectation of growth in Gross Domestic Product (GDP) between two and five percent, inflation under control and the reduction in interest rates, the predisposition of banks to finance and the default index under control.

“For exports, we do not foresee great growth in 2020. Argentina is our largest market and is still in a complex situation with high inflation, high interest rates, a new government taking office. We probably see stability in exports for 2020”.

Employment

The level of employment contracted 3.7 percent in November this year in relation to the same month last year, with 131,300 people working in the sector. In the first eleven monthss of the year, there was a one percent drop in the number of jobs.

Source: Agência Brasil