Brazil Auto Industry Hit by Drop in Exports to Argentina But Sees Growth at Home

Argentine economic crisis causing major drop in Brazil's auto exports this year (-12.7% projected)

Argentina lost position as top destination for Brazil's auto exports to Mexico

Auto exports from Brazil already down 11.2% in first 9 months of 2022

Brazil's domestic auto sales revised up to 2.23 million vehicles (6% increase) helped by temporary tax break program

Brazil's auto production now expected to rise just 0.1% in 2023 to 2.37 million vehicles as imports meet domestic demand