Brazilian automaker association Anfavea has revised its forecast for the sales and production of autos in Brazil in 2015.
According to the association, it has changed its forecast for the sales of cars in the year to a 13.2 percent decrease. Exports should increase 1.1 percent, it said, adding production should go down 10 percent.
“We didn’t have doubts these first three months would be extremely difficult, but the [current] conjuncture of facts make us revise our projections. We understand the need of adjustments in the economy and expect they be concluded as soon as possible, so we could retake our activities,” Anfavea’s president, Luiz Moan, said in a statement.
Moan’s comment follows a report issued by the association on Tuesday, which shows weak figures for the nation’s automotive industry on an year-on-year comparison basis.
According to Anfavea, car sales in March reached 234,631 units, 26.2 percent up month-on-month, but 2.6 percent down year-on-year. In the cumulative period of January and March, auto sales fell 17 percent compared to the same period of 2014. In Q1 2015 about 674,378 units were sold, compared to 812,754 units in Q1 2014.
Car production in March decreased 7 percent year-on-year, to 253,622 units, but increased 22.9 percent month-on-month.
From January to March, production reached 663,099 units, 16.2 percent down year-on-year.