Tue. Jan 28th, 2020

Bolsonaro celebrates the good results of the automotive industry in October

The president of Brazil, Jair Bolsonaro, celebrated on Thursday the good results recorded by the automotive industry last October, when production rose by 9.6% compared to the same month last year.

Brazil manufactured 288,512 units between vehicles, vans, trucks and buses in October, which is the best month so far this year, according to the data released yesterday by the National Association of Automotive Vehicle Manufacturers (Anfavea).

Compared to September, the production increase was still higher, 16.6%, Bolsonaro recalled Thursday through its social networks.

According to the employer of the sector, in the accumulated of the year the sector produced 2.5 million units, which represents an increase of 3.6% compared to the first ten months of 2018.

Despite the increase in production, exports fell by 22.6% in October compared to the same month of the previous year and 18.2% compared to September.

Also, in the first ten months of the year, Brazil sent 367,463 vehicles abroad, 34.7% less compared to the same period of the previous year, weighed mainly by the worsening of the economic crisis in Argentina, its third largest trading partner worldwide and the first in the region.

In that sense, the president of Anfavea, Luiz Carlos Moraes, stressed at a press conference the need for an understanding between the governments of Brazil and Argentina after the recent triumph of the Peronist Alberto Fernández, strongly criticized by Bolsonaro.

"Argentina is our biggest partner in terms of industry in the automobile sector. Therefore, we understand that the Brazilian and Argentine Government have to find the way to, with good sense and without ideology, to deal with business," said Moraes.

According to data from the National Association of Automotive Vehicle Manufacturers (Anfavea), until 2018 Argentina accounted for 75% of Brazilian vehicle exports, while currently it accounts for around 53%.

The employer also said in its report that in October 253,400 units were sold, which represents a 0.5% reduction compared to the same month of the previous year, but an increase of 7.9% compared to September.

In the accumulated year, sales increased 8.7% more than in January-October 2018, to 2.28 million units.

. (tagsToTranslate) Bolsonaro (t) celebrates (t) results (t) automotive industry (t)

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