Brazilian auto exports took a significant hit in January, with a staggering decline of 43%, according to the automaker association Anfavea.
The number of exported vehicles dropped to a mere 18,800, encompassing passenger cars, light commercial vehicles, trucks, and buses.
Anfavea officials attributed this sharp decline to a slowdown in traditional markets such as Argentina, Chile, and Colombia.
Registrations in these countries significantly diminished, consequently impacting Brazilian shipments.
The slump in exports affected all segments. Car exports experienced a significant decline of 45.9%, totaling 14,600 vehicles. Similarly, light commercial vehicle exports dropped by 26.5% to 3,500.
Truck exports saw a plunge of 39.1%, reaching a mere 600 units, while bus exports faced a staggering decline of 61%, with only 133 units being exported.
Contrastingly, imports reached their highest market share in January, claiming 19.5% of the Brazilian market.
This figure represents a significant increase from 14.3% in January of the previous year, 14.3% in January 2022, and 9.4% in January 2021.
This notable rise in imported vehicles further highlights the challenging situation faced by Brazilian automakers in terms of exporting their products.
The Brazilian auto industry now faces the challenge of reinvigorating its export figures and expanding its presence in other potential markets to mitigate the impact caused by the decline in traditional markets.
ANBA
