Vehicle production in Brazil increases 20% year-on-year in March

Vehicle production in Brazil, Latin America’s leading economy, increased by 20 percent last March compared to the same month in 2022, the National Association of Automotive Vehicle Manufacturers (Anfavea) reported yesterday, Monday.

According to the report, Brazilian factories produced 221,835 units in March of this year, against 184,786 in the same month last year.

Anfavea detailed that vehicle production in Brazil registered in the third month of the year an increase of 37.3 percent compared to February.

Regarding automotive sector exports, the report detailed that they grew by 14.8 percent in the inter-annual comparison, with the shipment of some 44,700 units, against 38,898 in March 2022.

The president of Anfavea, Márcio de Lima Leite, stated that the positive numbers reflected in March of this year did not, however, reach those recorded before the pandemic of the new coronavirus.

In the first quarter of the year, automotive production in Brazil increased by 8 percent, with 536,019 units manufactured compared to the same period in 2022.

“In this first quarter of 2023, we had eight factory interruptions and two work shift suspensions, similar to what happened at the beginning of 2022,” he explained.

Lima Leite commented that last year the problem was the supply of semiconductors for the automotive industry.

In 2023, the problem is the “cooling of demand” caused, among other factors, by the increase in the interest rate that harms the search for credit among buyers.

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