Mexico is an exception: grew by 66% and became the largest Brazilian vehicle customer
By George Guimarães | 11/08/23 | Translated by Jorge Meditsch
Brazilian vehicle exports in October added 31.3 thousand units, the second-worst monthly result of the year, beating only the 27.4 units shipped in September. Last month’s weak performance helped to pull even down the industry figures in 2023.
In the first ten months of the year, 354.2 thousand vehicles were shipped to other markets, 12.8% less than in 2022. Nonetheless, the industry celebrates a revenue of US$ 9.3 billion with exports, an 8.1% growth.
Falling exports were already foreseen by Anfavea at the beginning of the year, although much less severe: 2.9%, almost tied to 2022.
Nonetheless, shipments were much lower than expected, taking to a new yearly projection decline of 12.7%, reached after October.
Márcio de Lima Leite, Anfavea’s president, said this Wednesday, 11/8, that the scenario could be worse if not for the shipments made to Mexico.
The North American country, whose sales grew by 24% in the first ten months, is the only one among the main Brazilian vehicles market to buy more products in 2023.
Year-to-date, shipments to Mexico increased by 66% to 117.5 thousand units, including trucks and buses, which grew by 90%.
With this performance, Mexico becomes the largest foreign Brazilian vehicle market, replacing Argentina.
Despite a 14.5% internal sales growth, the neighboring country bought much less from Brazil and is currently the second-largest market. In ten months, 100.8 thousand vehicles were shipped to Argentina, a fall of over 17%.
Colombia, Chile and Peru registered even higher falls: 50%, 59% e 20%.
Anfavea’s president says that imports from other regions in Argentina and other more relevant markets are growing, which could be “stealing” part of Brazilian vehicle customers.
“It is a challenge for our sector. We are studying to define it better. Either these countries are producing more vehicles, which doesn’t seem to happen, either are buying from other regions”.
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