Brazilian motor vehicle output soared in April, with most of the gain coming from rising domestic sales rather than exports, the National Motor Vehicle Manufacturers Association (Anfavea) said Monday. April monthly production was 266,100 vehicles, up 40.4% from April of 2017. Production for the first four months of the year was 965,900, an advance of 20.7% over the same period in 2017. Domestic sales for the first four months of 2018 closely matched the rise in production, showing an increase of 20.2% to 762,880. Exports were also up, but not by the stunning rates seen in 2017. Four-month exports were 253,360, a gain of 7.5% over the same period a year ago. Rising domestic sales were favored by sharp declines in local interest rates. Low inflation has also encouraged buyers.
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