Production and sales of Brazilian vehicles plummet in April

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Automotive industry associates the negative result to the environment of high interest rates. Automotive industry is experiencing a period of slowdown Disclosure The Brazilian vehicle industry plummeted in April compared to March, according to data from the association of automakers Anfavea. While production of cars, pickup trucks, SUVs, commercial vans, trucks and buses fell 19.4% in the month, new vehicle sales fell 19.2%. The sector has attributed the negative performance to the environment of high interest rates that pressure the demand for new cars, to the anticipation of purchases of trucks and buses at the end of last year and to the supply of components that has not yet stabilized. What is the Central Bank still waiting for to lower interest rates in Brazil? Vehicle industry numbers Vehicle production in April totaled 178.9 thousand units, the lowest level for the month since at least 2020; The registrations were 160.7 thousand, informed the entity. The Gerdau steel company, an important steel supplier for the country’s automakers, reported last week that at least eight vehicle factories in Brazil were at a standstill. Compared to April 2022, last month’s production fell by around 4%; Sales rose 9.2% over the same period; In the four-month period, production shows an increase of 4.8% over the period from January to April 2022, with 714.9 thousand vehicles; Already sales advanced 14.4% in the four-month period, to 632.5 thousand. The entity also informed that April exports fell 24.1% in the annual comparison, to 34 thousand vehicles, accumulating in the four-month period a decrease of 4.3%, to 146.3 thousand units.

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