Brazil’s automotive production (cars, trucks and buses) reached 227,000 units in August, 24 percent more than in July and 4.6 percent less than in August 2022.
Domestic sales totaled 207,700 units in August, 7.9 percent less than in July and 0.4 percent less than in August 2022.
Exports in August totaled 34,500 units, 13.8 percent more than in July and 26.2 percent less than in August 2022.
According to Marcio de Lima Leite, president of the sector association Anfavea, the decline of domestic sales in August reflects the end of the government tax credit program, which increased sales due to the lower prices offered by the automotive industry, in exchange for tax credits granted by the fiscal authorities.
Lima Leite mentioned that the program is not expected to be extended for the rest of the year.
During the first eight months of the year, automotive production in Brazil has reached 1.541 million units, a 0.4 percent decline on yearly basis, while domestic sales increased by 9.4 percent to 1.431 million units and exports declined by 12.8 percent to 292,100 units.