Vehicle production drops 15.8% in February

Vehicle production fell by 15.8% in February compared to the same month in 2021. According to studies released on the 8th by the National Association of Motor Vehicle Manufacturers (Anfavea), 165.9 thousand units were assembled in February. This number, compared to January, represents an increase of 14.1%.

New vehicle sales in February also fell by 22.8% compared to the same month last year. As a result, 129,300 units were licensed in the second month of 2022.

According to the president of Anfavea, Luis Carlos Moraes, the industry is still facing the challenges imposed by the Omicron variant and also by the lack of components.

Vehicle Production in February

The production of automobiles and light vehicles fell by 16.9% in February compared to the same month of 2021, with the production of 152,600 units. The sales in this category showed a 24% retraction compared to February last year, with the sale of 120,400 units.

Truck manufacturing fell by 3.5% in February compared to the same month in 2022, with the production of 11,400 units. Sales, however, rose 2.1%, with 7,900 units.

Employment and exports

Exports rose 25.4% in February compared to the same month in 2021, with the sale of 41,400 units. According to Moraes, part of this number corresponds to items that could not be shipped in January and could only go to their destinations the following month. Considering both January and February, the result is still up 17.3%, with the export of 69,100 vehicles.

The number of jobs in this industry is 3.2% lower than in the same month last year, with 101,300 people employed.

Ukraine

Moraes outlined some of the market risks posed by the armed conflict, such as rising commodity prices and increasing shortages of semiconductors produced by Ukraine and Russia, both of which are major producers of palladium and neon gas. Furthermore, war, according to Moraes, can increase the value of air and sea freight.

Source: Agência Brasil

To read the full original article please see:

https://agenciabrasil.ebc.com.br/economia/noticia/2022-03/producao-de-veiculos-cai-158-em-fevereiro

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