* Brazil’s national association of vehicle manufacturers (Anfavea) has announced that 227,900 vehicles were produced in the country in May, representing a 27.4% increase on April and a 10.7% increase on May 2022. Anfavea partially attributed the rise in production to expectations of higher sales due to tax incentives announced by President Luiz Inácio Lula da Silva’s government in May, noting that “many companies increased their stock in the expectation of strong demand from this month”.
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LatinNews Daily - 07 June 2023
In brief: Brazil’s vehicle production surges in response to tax breaks
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