Brazil Automotive Market Insights: 2024 Production & Export Estimates - Business

Brazilian Automakers Association Lowers 2024 Production and Export Estimates

Brazil 's automakers association Anfavea recently revised its projections for vehicle production and exports in 2024 . While total vehicle output is expected to grow by 4.9 % this year from the previous year , exports are forecasted to drop by 20.8 % year - on - year . On the other hand , total vehicle sales are expected to increase by 10.9 % in 2024 , up from the previous forecast of 6.1%.

Anfavea , which mainly represents Brazil units of foreign automakers , reported a 26.6 % increase in vehicle production in June compared to May . Additionally , vehicle sales in Latin America 's largest economy saw a 10.3 % month - on - month growth . The association 's president , Marcio Lima , expressed concerns about the rise in Brazilian imports of foreign vehicles , particularly from China , and emphasized the need for higher taxes on car imports.

Important Sentences:

Brazil Automotive Market Insights: 2024 Production & Export Estimates

 Total vehicle output is expected to grow by 4.9 % this year from 2023 , down from the 6.2 % that Anfavea previously estimated.

 Exports are forecast to drop 20.8 % year - on - year , compared with the 0.7 % rise that Anfavea previously expected.

 Total vehicle sales , however , are forecast to rise 10.9 % in 2024 , up from the previous forecast of 6.1%.

Online Trading Facility and Risk Disclosure

The XM Group entities offer an execution - only service and access to their Online Trading Facility . It is essential to understand that the content available on or via the website is for informational purposes only and does not constitute financial , investment , tax , or trading advice . Trading in financial markets carries a significant level of risk to capital , and individuals must be aware of the Terms and Conditions , Risk Warnings , and Full Disclaimer before accessing or using the platform.

The material published on the Online Trading Facility is intended for educational and informational purposes . It does not offer financial advice , investment recommendations , trading prices , or solicitations for transactions in financial instruments . Any third - party content provided on the website is general market commentary and should not be considered as investment advice.

It is important to note that content construed as investment research may not comply with legal requirements promoting the independence of such research . Therefore , it is essential to understand the risks associated with trading and ensure compliance with relevant laws and regulations regarding investment communication.

With careful consideration of the risks involved in trading on financial markets , individuals can make informed decisions and protect their capital while engaging in trading activities.