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Auto industry has best month of sales since December 2014

Economy

Data from automaker association also showed production is on the rise
published: Nov 07, 2018 09:50 PM last modified: Nov 08, 2018 04:24 PM

Auto industry has been recovering since 2017

Auto industry has been recovering since 2017 - Photo: Marcelo Camargo/Agência Brasil

Automakers recorded a 25.6% increase in sales in October compared to the same period last year, making it the best monthly performance for the sector since December 2014.

Sales of the sector reached 254.7 thousand units in the month, the best result for October in four years. The data was released on Wednesday (7 November) by the National Association of Automotive Vehicle Manufacturers (Anfavea).  

Auto industry has best month of sales since December 2014

Production

“The sales numbers surprised us with an average of more than 11,500 units sold per day, which ensures the recovery of the automotive industry this year compared to last year," said Anfavea president Antonio Megale.

Automakers also continued to recover output as the economic environment becomes more favourable. New vehicle production was up 5.2% in October compared to the same month of last year. In the year, production was 2.4 million units - 9.9% more than in the same period of 2017.

Route 2030

Amid the recovery of automaker activity, the auto industry has also advanced regarding the new incentives model to be adopted for the next years.

On Wednesday (7 November), the Chamber of Deputies approved a Provisional Measure establishing the Route 2030 Programme, an initiative that reduces taxes for the sector and creates incentives for companies to increase investments in products and technologies in the country.