Brazil's motor vehicle exports dropped 52.3 per cent in April from a year earlier, the National Association of Motor Vehicle Manufacturers (Anfavea) said Tuesday.
The Anfavea said in a report that the fall was largely due to the economic crisis in Argentina. The neighbouring South American country accounts for 70 per cent of the sales abroad of the Brazilian-made vehicles, according to Xinhua.
"Factories are trying to find other markets so as to make up for the loss of exports to Argentina," said Luiz Carlos Moraes, the Anfavea president.
In April, Brazil exported 34,905 units of vehicles, and it is projecting a total export of around 500,000 units for 2019. The output of cars, trucks, and buses grew 0.5 per cent to 267,546 units in April from a year earlier, the Anfavea report said.
