Car exports fell 23.4% in August YoY

Data released this Friday, September 4^th, by the National Association of Motor Vehicle Manufacturers (ANFAVEA) shows that automobile industry exports fell 23.4% in August in comparison with the same month last year. Over the eight month-period, a total of 176,700 vehicles were shipped, a 41.3% decrease compared to the same period in 2019. The drop in vehicle exports is due to the coronavirus pandemic.

Automaker export revenue from January to August totaled US$ 3.1 billion, a 34% drop compared to year-ago levels.

Vehicle factories resumed activity at a slower pace after the lockdown to meet less demand in the domestic market and in exports. With 210,900 units, production last month was 21.8% lower than in the same period of 2019.

According to Luiz Carlos Moraes, president of ANFAVEA, the 2020 result up until now shows a loss of four months of production as compared to 2019.

In the cumulative result for the year, 1.11 million vehicles left the assembly lines which represented a decrease of 44.8% in relation to the same period last year.

Sales

Vehicle sales in the country dropped 24.5% in August compared to the same month last year, with 183,400 cars, light commercial vehicles, trucks, and buses licensed.

According to Moraes, the sector enters the third quarter better prepared and has begun to adapt to the new demand. The sector ended the month with enough inventory for 23 days of sales, the same as in July.

In the first eight months of the year, sales volume decreased 35%, to 1.16 million vehicles, as compared to the same period last year.

Source: Valor Investe

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