With the improvement of the Brazilian economy in the first quarter, the automotive industry increased production and re-sold more vehicles. In May, manufacturing of light and heavy vehicles increased 33.8% over the same period last year. Vehicle licensing registered a 16.8% increase on the same basis of comparison.
The data was released on Tuesday (6) by the National Association of Manufacturers of Automotive Vehicles (Anfavea).
Compared to April, the automotive industry’s production grew by 25.1% last month, which contributed to the 23.4% increase in vehicle manufacturing between January and May in the year-over-year comparison. In the case of sales, there was a 24.6% increase in monthly terms and a 1.6% increase between January and May, in the annual comparison.
However, the good results are not restricted to the domestic market alone. The Brazilian automotive industry started to receive more demand abroad. In May, vehicle exports jumped 21% over April, up 51.1% from the same period last year.
In the year, international sales accumulated growth of 61.8% compared to the first five months of 2016.