Auto production in Brazil reportedly surged in March, as strong exports helped the sector avoid the impact of higher interest rates that have hurt overall industrial output.
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According to the Associated Press, Brazil’s national automakers association, known as Anfavea, said on Wednesday that vehicle output rose 17.5% in March from February and 14% from a year earlier while auto sales jumped a hefty 30% from a month earlier and 5.5% from March 2004.
By contrast, overall industrial output has slipped, AP noted, adding that the government said industry did worse than expected in February, declining 1.2% from January although rising 4.4% from a year earlier.
But the auto sector reportedly was driven by strong exports, which brought in $US936.5 million (€728.2 million) in March – up 26% from February and 31% higher than in March last year.
AP said that, in the first three months of this year, Brazil produced 565,000 vehicles, 12.5% more than in the same period in 2004, while local sales rose a modest 4.8%, and exports jumped 36%.
Volkswagen was the top seller in the first quarter, followed by General Motors, Fiat and Ford, the Associated Press said.
