Brazil’s vehicle production capacity has risen to 3.85m vehicles a year, up 350,000 units on last year. This is expected to rise to 4m in 2009.
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The figures are based on estimates by the Brazilian vehicle manufacturers trade association, ANFAVEA.
Further expansion in capacity is scheduled when Toyota opens its new plant in 2010, and as Fiat expands its operations in Betim.
Total investment by the automotive industry is projected to be $US20m between 2008-2010, reported AutoData. Annual investments were $2.1bn in 2007, up from $1.2bn in 2005 and just $0.7bn in 2003.
This year investment is expected to rise to $4.9bn, way above the level of the last wave at the end of the 1990s when investment peaked at $2.5bn in 1998.
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By GlobalData“We are experiencing the industry’s largest expansion in its history,” said Anfavea president, Jackson Schneider.
Brazilian production in February was up 23.6% compared to a year ago to 251,900 units. Inventories are, however, also high, at 24 days of sales (158,500 vehicles). Vehicle sales were up 36.8% in February to 200,800 units, making it the best February in history.
Fiat topped the sales ranking in the first two months of the year, ahead of GM and Volkswagen respectively. They fought a very close battle for second place. Fiat sold 99,000 vehicles and GM and Volkswagen each sold 89,000. Fourth place went to Ford with 37,000 vehicles sold.
