Automotive sales in Brazil are expected to accelerate next year, beating prior forecasts, as Latin America’s largest economy continues to recover from political and economic instability.
New car and truck sales are expected to grow 9% this year said the national automakers association Anfavea, according to Reuters. The group’s prior forecast was 7.3%. If sales finish strong, the market might grow by double digits in 2018, noted Anfavea President Antonio Megale.
Heavy truck sales in Brazil may raise to 30% next year said Philipp Schiemer, head of Mercedes-Benz in Brazil and the senior executive in Latin America for Daimler AG, reports Reuters. This is up from the prior forecast of 20% growth.
Automakers in Brazil produced about 249,100 new cars and trucks in November 2017, while sales totaled around 204,200 vehicles, according to data released by Anfavea.
Production grew 15.2% and sales climbed 14.6% last November from November 2016, according to data release by Anfavea, reports MercoPress.