Brazil vehicle output up 4.7% in November; steel price to rise 30% in 2021

Brazilian vehicle output totaled 238,200 units in November 2020, a 4.7% year-on-year increase from 227,455 units, with exports recovering because of growth in Argentina, Mexico, Colombia and Chile, national car manufacturers' association Anfavea said on Monday December 7.

Production hit its highest level since October last year, and figures were the best for November since 2018, Anfavea president Luiz Carlos Moraes said in a press conference on Monday.
In contrast, volumes during the January-November period amounted to 1.8 million units, down by 35% from 2.77 million units in the corresponding months of 2019.

That growth was at risk, however, due to rising costs, which themselves were partly the result of a proposed steel price increase from steelmakers for annual contracts, and partly due to shortages of material and...

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