Brazilian car production and sales declined in April | Economy
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The Brazilian auto industry slid in April compared to March, according to data from car manufacturers’ association Anfavea.
While production of cars, vans, SUVs, commercial vans, trucks and buses declined 19.4% in the month, new vehicle sales fell 19.2%.
The sector attributed the negative performance to the environment of high interest rates, which put pressure on the demand for new cars, and the expectation of buying trucks and buses at the end of last year and the supply of components that have not yet stabilized.
- What is the central bank still waiting for to cut interest rates in Brazil?
Vehicle Industry Numbers
- Auto production in April reached 178.9 thousand units, the lowest level since at least 2020.
- The number of registrations reached 160.7 thousand, the entity reported.
Gerdão Steel, an important supplier of steel to the country’s automakers, reported last week that at least eight auto plants in Brazil were idle.
- Compared to April 2022, last month’s production decreased by about 4%.
- Sales rose 9.2% over the same period.
- In the four-month period, production showed an increase of 4.8% during January-April 2022, with 714.9 thousand vehicles;
- Sales actually rose 14.4% in the four-month period to 632.5K.
The authority also reported that April exports declined by 24.1% in the annual comparison, to reach 34 thousand units, accumulated in the four-month period, a decrease of 4.3%, to reach 146.3 thousand units.
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