Brazil’s automotive industry association, Anfavea, released late last week its forecast for 2016 production and exports.
According to the trade group, Brazilian auto production should be stable in 2016, reaching a slight increase of 0.5 percent.
“We believe there will be an increase in exports in 2016 as a result of the company’s efforts to expand external businesses in a moment of currency opportunities,” Luiz Moan, Anfavea’s president, said.
Exports are expected to increase 8.1 percent, while domestic sales should fall 7.5 percent.