|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

Auto Production Falls Sharply in Brazil

SAO PAULO – Automakers in Brazil produced 265,900 vehicles in August, a 22.4 percent decline from the same month of 2013, the Brazilian Association of Automotive Vehicle Manufacturers (Anfavea) said on Thursday.

A total of 2.08 million vehicles rolled off the assembly line in the first eight months of 2014, down 18 percent from the same period of last year, according to Anfavea’s monthly report.

Compared to July, when public holidays declared on World Cup match days hurt vehicle output, production last month was up 5.3 percent.

Exports of vehicles made in Brazil climbed to 31,700 units, down 7.5 percent from July and a whopping 50.6 percent from August 2013.

A total of 235,400 vehicles were exported in the first eight months of 2014, down 38.9 percent from the same period of 2013.

Anfavea attributed the drop in shipments abroad to financial woes in Argentina, the destination for 90 percent of Brazilian auto exports.

In terms of value, auto sector exports, including parts, came in at $1.02 billion in August, down 39.5 percent from the same month of 2013. For all of 2014, those exports amounted to $8 billion, a 27.2 percent decrease from the same period of last year.

New factories set up by Nissan, Hyundai and China’s Chery and upcoming plants to be inaugurated by Jaguar Land Rover, Audi, BMW and Mercedes-Benz, however, give cause for optimism.

“We’re going to have a much better second half. We’re a long-term investment sector. If there wasn’t any potential, there wouldn’t be so much investment here,” Anfavea’s president, Luiz Moan Yabiku, told a press conference.

Auto sales in August, measured on the basis of vehicle registrations, totaled 272,500 units, 17.2 percent less than in the same month of 2013, while 2.23 million vehicles were sold in the year’s first eight months, down 9.7 percent from the same period of 2013.

Sales in August were down 7.6 percent from July.

Anfavea left unchanged its 2014 forecast of a 10 percent drop in auto production, a 29 percent decline in auto exports, and a 5.4 percent decrease in domestic sales.

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:



 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved