Anfavea, the Brazilian automotive industry association, said this week it has upgraded its forecast for production and auto exports in 2017.
Anfavea said it expects Brazilian auto exports in 2017 to increase 35.6 percent, year-on-year, to 705,000 units. The trade group had previously anticipated in January a 7.2 percent increase in the country’s auto exports in 2017.
The association also said that imports have declined this year, and so the production outlook for the ongoing year has improved as well. Anafavea said production should grow from a previous growth estimate of 11.9 percent to 21.5 percent in 2017, year-on-year, to reach 2.62 million units.
Domestic sales should increase 4 percent in 2017, year-on-year, totaling 2.13 million units—the same forecast as reported in January this year. However, Anfavea said that despite an increased forecast for domestic sales in 2017, the local automotive industry still struggles with an idle capacity.