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Automotive sector speeds up vehicle production in March

Automobiles

Anfavea survey shows that vehicle production increased in March, with exports record

The automotive industry boosted vehicle production in March, as confidence in the economy resumed. Data from the National Association of Automobile Manufacturers (Anfavea) show that vehicle manufacturing grew 18.1% in relation to the same month last year.

According to the entity, the production of vehicles in the first quarter was 24% higher than in the same period last year, and the result of March grew 17.1% compared to February.

With signs of a resumption of growth, vehicle licensing also grew last month. According to the Anfavea survey, vehicle sales recorded a 39.4% increase in relation to February and a 5.5% increase over the same period in 2016.

Reflecting the current positive trade trend, the automotive sector exported more. In the first quarter, vehicle exports reached a record level, with the sale of 172.7 thousand units abroad. The number represents an increase of 69.7% over the same period last year.

Source: Portal Brasil, with information from Anfavea