Brazil's Vehicle Output Up 17.4 Percent

According to the report, around 189,700 units were produced at factories in the South American country in February 2024.

Anfavea's president, Marcio de Lima Leite, said at a press conference that the February figure represents "the most significant outcome for the industry, since production is starting to climb some major steps."

New vehicle sales were the highest of any February since 2020.

Sales of all types of vehicles grew by 27.1 percent year-on-year in February, and by 19.8 percent in the first two months of this year.

February exports were up 62.7 percent from January, thanks to an investment incentive program the Brazilian government launched for the automotive industry.

"Records are being broken in the automotive sector in the amount of investments and we expect more in the coming months," said the president of Anfavea.

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