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LatinNews Regional Monitor: Brazil & Southern Cone - 7 August 2018
In brief: Brazil
* Brazil’s national association of automobile manufacturers (Anfavea) has reported that in the first seven months of the year national vehicle production stood at 1.68m units, a 13% increase compared to same period last year. Anfavea points out that the increase in production this year is a sign that the sector, one of the worst affected by Brazil’s 2015-2016 domestic economic crisis, is starting to recover. Notably Anfavea highlighted that the increase in production was driven by increased domestic demand with 1.38m vehicles sold in Brazil in the first seven months of the year, a 14.9% year-on-year increase. In contrast, Brazil’s vehicle exports fell by 2.8% to 430,359 units during the period, which Anfavea attributed to a fall in demand in Argentina, the main export market for Brazilian automobiles.
