Anfavea revises projections for 2019

The National Association of Automobile Manufacturers (Anfavea) announced its new projections for the end of the year, with expectations of growth in production, especially in domestic sales. According to a survey of the entity’s economic team, domestic sales should end the year with 2.8m units sold, a 9.1% growth over 2018.

The positive highlight is the heavy industry, with a significant growth estimated at 35%, surpassing the 100,000 units sold mark – a figure that was not reached since 2014. Production is expected to grow less, due to the 33.2% drop in exports largely caused by the Argentine crisis. The increase is estimated at 2.1%, representing the third consecutive year of recovery in production.

“Estimates made at the beginning of the year took into account higher GDP growth, more stable exchange rates, and faster approval of pension and tax reforms. In addition, the scenario in Argentina has gotten worse than imagined. In the review now made, 85% of the reduction in production expectations was due to the drop in shipments to our Argentinean neighbors,” said Anfavea president Luiz Carlos Moraes.

“Most importantly, we will maintain the third year in a row of growth in the domestic market and production, with good expectations for 2020.”

September Sector Results

At the end of September, the highlight is the mark of more than 2m vehicles licensed in nine months, the best result of the period since 2014 and more than the entire volume of 2016. This was the second best month of the year in daily average sales, which proves the warming of the market in this second semester, as is common in the automotive sector. Once again, the best performance is in the truck sector, which in nine months reached almost all of last year’s sales volume.

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