Brazil’s automotive industry is expected to end 2004 with a record output of 2.1 million vehicles, according to estimates of the local car part manufacturers union Sindipecas, the Latin News Digest reported.
Go deeper with GlobalData
The country’s vehicle production is expected to increase 11.9% year-on-year in 2005, reaching 2.35 million units, Sindipecas said. Local vehicle production is expected to continue being boosted mainly by exports, which are seen at 625,000 units for 2004 and at 700,000 units for 2005, according to Sindipecas president Paulo Butori.
Revenue from Brazil’s vehicle exports is expected to total $US7.5 billion (€5.872 billion) for 2004, a 36% year-on-year increase, according to estimates of the National Association of Vehicle Manufacturers (Anfavea). The country’s domestic vehicle sales for 2004, in turn, are expected to climb 7.8% in comparison with the 1.428 million units sold in Brazil in 2003, Anfavea said, according to the report.
