Automobile output in Brazil jumped in April from a year earlier as automakers ramped up production to meet a surge in demand in export and domestic markets, the national automakers’ association Anfavea said.
Output jumped 14.2 percent in April from a year earlier to 290,000 units, helped by plentiful credit for new vehicle purchases in Brazil. Exports surged 56.6 percent year-on-year to $917 million, underscoring a nascent rebound in the global economy that has revived demand for cars.
Still, output in April tumbled 14.6 percent from March as carmakers adjusted production after government tax breaks expired in Brazil. Sales in April dropped 21.5 percent from March, but were up 18.6 percent from a year earlier, Anfavea said.
Brazil, Latin America’s largest economy, is a major market for Italy’s Fiat SpA , Germany’s Volkswagen AG , and U.S.-based General Motors Co. and Ford Motor Co .
Fiat remained the market leader in Brazil in April, selling 58,833 new cars and light trucks, down 20.1 percent from the previous month, while VW sales also declined 20.1 percent month-on-month to 55,678 units. GM’s sales dropped 28.4 percent to 50,177 units, while Ford sold 27,417 units, 24.5 percent lower than March. (Reuters)