Brazil light vehicle registrations and production grow in July
Light-vehicle sales in Brazil increased by 16.8% in July, and are heading into the second half of 2018 up 14.2% y/y. Over the first seven months of 2018, light-vehicle exports have now dropped 3.6%, while production is up 12.6% y/y.
Brazilian light-vehicle sales rose 16.8% y/y in July. Production increased 20.8% y/y, despite exports dropping 21.6% y/y in July. IHS Markit has revised its forward forecast, and projects Brazilian full-year 2018 sales at 2.4 million units, up 10.3% y/y. Exports, however, remain soft, in part on a weakening Argentine market. IHS Markit forecasts Brazil's light-vehicle production will reach 4.1 million units in 2026, compared with 2.9 million units in 2018. Over the first seven months of 2018, light-vehicle sales are up 14.2% y/y, production has increased 12.6%, and exports have declined 3.0%. Brazil is seeing a V-shaped recovery, rather than the U-shaped recovery previously expected.
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