Brazil’s car exports slightly drop in early 2023

Mar, 06, 2023 Posted by Gabriel Malheiros

Week 202312

Despite work interruptions due to the Carnival holiday and heavy rains on the coast of São Paulo, the month of February saw an increase in the daily average of vehicle sales, which sustained a positive balance throughout the first two months of the year. The recorded average of 7.2 thousand units/day was 11% above the 6.5 thousand/day in January. All things considered, it should be noted that Carnival last year occurred in March, which contributed to better market performance this year, comparatively speaking.

According to a market study released this Monday, March 06, by the industry association ANFAVEA, the 8,800 electrified cars sold in the two-month period conveyed an increase of 45% over January and February of last year, foreshadowing a growth of 40% by the end of this year — a volume over 70,000 hybrid and electric models.

Production increased in the two months, but more slowly, due to the temporary closure of some factories in February – some due to a shortage of semiconductors, others for assembly line adjustments. Nevertheless, the 313.8 thousand vehicles manufactured (161.2 thousand in February) represented a 0.8% increase over the first two months of 2022.

Exports in the two-month period saw a slight decrease in comparison with the beginning of last year. In total, 67,400 units left the country’s ports, down 2.6%. On the other hand, the revenue generated from these exports grew by 28.5%, which is explained by a shipment combination of higher value-added models, such as trucks and buses.

In addition to seasonal issues, January started slower for agricultural machinery due to the lack of resources with equalized rates, especially for small and medium producers. In this way, the 3,453 units sold fell by 13.9% compared to January 2022. February numbers have not yet been accounted for. On the other hand, road machinery kept a stable pace, with sales of 2,430 units, up 14.1% over the first month of last year.

Sharing is caring!

Leave a Reply

Your email address will not be published. Required fields are marked *