Vehicle sales stable but Anfavea reduces projection to 2019
Production and sales already exceed two million vehicles but crisis in Argentina hard affects national industry
Data from Anfavea, the national association of vehicle manufacturers, show that sales of new vehicles across the country grew 10.1% in September compared to the same period of 2018. There were 234.8 thousand units sold domestically in the last year. month. In the first nine months of this year 2.03 million vehicles were sold and 337.5 thousand were exported.
However, the entity significantly reduced its growth projection. The expectation was to close the year with 2.86 million units produced but now Anfavea expects to reach 2.8 million which still means a 9% increase over last year. Anfavea, responsible for the disclosure of industry data, does not see with concern the moment. “September had production adjustment with the launch of new models, which led to the occasional fall, but the crisis in Argentina reduced our growth expectation,” explained Luiz Carlos Moraes, president of the entity.
At the monthly meeting held in Sao Paulo, Moraes also mentioned recent releases such as the new generation Corolla and other high volume cars like the Chevrolet Onix and Hyundai HB20. The executive was optimistic that sales might outstrip manufacturers’ projections.
Exports have been undermining the performance of the industry, especially due to the worsening of the crisis in Argentina, although partially offset by new markets such as Mexico, Colombia and Peru. Just over 170,000 vehicles are no longer sold in Argentina this year, according to Anfavea. In total the drop in exports reached 35.6% this year. Luiz Carlos Moraes pointed out that while Argentina has been experiencing an economic downturn other countries like Colombia have been buying more vehicles from Brazil.
The executive also pointed out that the reduction of the Selic rate, the injection of R $ 40 billion from the FGTS and the greater willingness of banks to finance automobiles will have greater consequences in 2020.