Brazilian motor vehicle production soared by 23% in 2017 and should see another 13% boost this year, the National Motor Vehicle Manufacturers Association (Anfavea) said Friday. The association released 2017 figures, showing production of 2.7 million motor vehicles, domestic sales of 2.24 million, up 9% from 2016, and exports of 762,000, up a whopping 46% against the previous year. Anfavea is forecasting a 13% rise in production for 2018, with domestic sales up nearly 12% and exports rising 5%. Exports have been favored by bilateral accords with neighboring countries. Domestic sales will continue to be supported by rising employment levels and lower interest rates, Anfavea said.
Link to Anfavea releaseMore Testimonials