For the first time, Brazil produces more than 3 million vehicles in 12 months

For the first time, Brazil produces more than 3 million vehicles in 12 months

SÃO PAULO – For the first time, the national automotive industry hit a record production of more than 3 million vehicles in one year. In the 12 months ended last January, the country produced 3.02 million vehicles, a 5.2% growth compared to the previous 12 months, when the segment produced 2.62 million units.

Sales in the 12-month period ended in January reached 2.52 million vehicles, a 29.6% growth compared to 1.95 million vehicles sold one year before.

Despite the record production, the National Association of Vehicle Manufacturers (Anfavea) maintains its projections for 2008. The entity forecasts an 8.9% production increase, reaching 3,235 million units by yearend.

Sales should grow 17.5%, to 2.895 million vehicles. The production forecast for 2008 is quite close to the total annual capacity of the Brazilian industry, estimated at approximately 3.5 million units. However, Anfavea guarantees that there will be no supply problems.

“There will be no shortage of cars. The industry is already investing in capacity increase”, said the entity’s president Jackson Schneider. He promises to release in March a survey on the new capacity of the national industry, already recording the investments announced by some car makers such as Fiat, Peugeot/Citroën and Volkswagen Caminhões e Ônibus.

(Murillo Camarotto | Valor Online)

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