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Brazil Posts Record Heavy Duty Trailers Sales in January 2024
Fabio Ferraresi The Heavy Duty Trailers market has started the year 2024 with a record-breaking January, boasting 7,075 registrations of trailers and semi-trailers. This achievement reflects an impressive 8% surge compared to January 2023.
The exceptional performance of road implements at the outset of the year is predominantly attributed to the agribusiness sector.
Source: Automotive Business Read The Article
PSR Analysis. Notably, the initial months of the year coincide with…
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BYD Seeks To Acquire Lithium Mining Operation
BRAZIL/SOUTH AMERICA REPORT
Fabio Ferraresi BYD is negotiating to acquire Sigma Lithium, the largest lithium mining entity in Brazil, according to the Financial Times. The potential agreement could be valued at US$ 5 billion (R$ 14.3 billion). Sigma Lithium operates a lithium mining facility in the Jequitinhonha Valley in the state of Minas Gerais. The strategic intent behind this acquisition by the Chinese manufacturer is to secure a stable supply of raw materials essential for the production…
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VW Trucks and Bus To Restart Two Shifts in January
Fabio Ferraresi Volkswagen Trucks and Bus announced that it will return in January from collective vacations to resume production in two full shifts, marking a return to a pre-April status.
Since April, alternating worker groups have managed the production line and remote work, with workers undergoing training courses during off-duty periods. This measure was essential due to a 37.8% decline in truck production and a 35.2% decrease in bus chassis production from January to October.
From January onwards, production will resume at full capacity, assuming positive market expectations.
Source: AutoData Read The Article
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XCMG To Invest US$ 55 Million in Brazil Electric Truck Plant
BRAZIL/SOUTH AMERICA REPORT
Fabio Ferraresi XCMG has signed a letter of intent to invest in Pouso Alegre, in the south of the state. XCMG also plans to invest in the creation of a research and development center in the state.
Source: Brazil Mineral Read The Article
PSR Analysis: The letter of intent reaffirms the intention of XCMG to gain market share in Brazil, not only on the Off Highway Electric Truck segment, but also in Brazil’s On Highway Truck segment they entered…
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Vehicle Production in Brazil Stagnates
During the first 10 months of 2023, Brazilian On Highway Vehicle production faced challenges, with an increase in imports of approximately 58,000 units from January to October and a simultaneous drop in exports by more than 52,000 vehicles. The outcome was a stagnation in production, as only 1,950,000 passenger cars, Minivans and SUVs, light commercial vehicles, trucks, and bus chassis were produced. This marked a decrease of 0.6%, equivalent to almost 12,000 vehicles, compared to the same period in 2022, as reported by Anfavea on Nov. 8, 2023.
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