Vehicle production increases 5% in January in Brazil

Vehicle production in Brazil, the major Latin American economy, advanced by 5 percent in January of this year compared to the same month of 2022, informed yesterday, Tuesday, the National Association of Automotive Vehicle Manufacturers (Anfavea).

The entity released in a statement that 152,666 vehicles were manufactured in the South American country during the first month of the year, compared to 145,417 assembled in January 2022.

In turn, automotive sector exports grew in the reference month by 19.3 percent in the year-on-year comparison, with 33,048 vehicles sent to the foreign market, the highest monthly advance in the last five years.

“In January, the automotive sector’s problem was more one of demand than of supply since the year began with a cooling of the market due to the difficulties in accessing credit and the climate of uncertainty regarding economic performance,” said Anfavea’s president, Márcio de Lima Leite, at the presentation of the report.

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