LatinNews Daily - 15 January 2025

*Brazil’s national association of vehicle manufacturers (Anfavea) has released its latest production and sales figures, showing a total of 2.55m vehicles produced in 2024 and 2.64m vehicles sold. The annual production figure marks a 9.7% increase from 2023, while domestic sales were up 14.1%. However, Brazil’s total vehicle exports saw an annual decrease, registering 398,500 units exported in 2024, down 1.3%. The number of imported vehicles saw an annual rise, with 466,500 units sold in Brazil, up 32.5% from the previous year. In a press release, Anfavea listed several priorities for the sector in 2025, which include reaching an annual domestic sales target of 3m units; increasing exports and decreasing imports; and advancing the decarbonisation of the automotive industry. In 2024, a total of 61,535 electric vehicles (EVs) were sold in Brazil. This accounted for only 2.5% of the total annual sales of passenger cars and light commercial vehicles but marked a significant increase from 2023, when only 19,277 EVs were sold.