Brazil’s auto industry in January extended its spectacular 2017 recovery, with double-digit increases in production, domestic sales and exports, the National Motor Vehicle Manufacturers Association (Anfavea) said Tuesday. January production of 216,800 represented a 25% rise over January of 2017, with domestic sales up 23% at 181,200 and exports rising 24% to 47,000. The industry staged a major recovery in 2017 on sharply declining interest rates. The recovery is expected to continue this year as Brazil’s economic recovery gains momentum on low inflation and rising job creation.
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