Brazilian light-vehicle registrations jump 24.5% y/y in October
Light-vehicle (LV) registrations in Brazil increased by 24.5% y/y in October, and are up 14.4% y/y in the YTD. Over the first 10 months of 2018, light-vehicle exports have dropped 11.1% y/y, while production has risen 9.0% y/y.
Brazilian LV registrations took a sharp incline in October, pulling the YTD figure to 2.03 million units, as the month saw an increase in available credit. October's LV production increased 4.0% y/y. The IHS Markit full-year forecast has been updated, currently forecasting that Brazil will see LV sales of 2.44 million units in 2018, up 12.4% from 2017. LV exports remain soft, in part on a weakening Argentinian market. IHS Markit forecasts Brazil's LV production will reach 4.11 million units in 2026, compared with a forecast of 2.88 million units in 2018. Brazil's market is seeing a V-shaped recovery, rather than the U-shaped recovery previously expected.
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