Brazil's automotive production grows 10.9% y/y in September
Automotive production in Brazil increased 10.9% year-on-year to 247,333 units in September, CEEMarketWatch reported citing figures released by the National Automotive Manufacturer Association (Anfavea). This result shows significant improvement compared to the 7.3% y/y decline recorded in August.
The stronger activity in y/y terms is mainly explained by car and commercial vehicle output which jumped 10.8% y/y in September after the 7.9% y/y decrease posted a month earlier. Truck and bus production growth also accelerated sharply during the ninth month of 2019.
On the negative side, the industry's output in September fell 8.3% m/m and Anfavea lowered its 2019 production forecast to 2.1% expansion due to the eventual negative impact of internal and external macroeconomic factors.
Original source: CEEMarketWatch