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Vehicle production slumps to 2005 levels in Brazil

Xinhua, June 9, 2015 Adjust font size:

Brazil's vehicle production fell 25 percent in May compared to the same period last year, slumping to levels not seen in the past 10 years, carmakers' association Anfavea said Monday.

"With the production level, we have returned to 2005, with a very negative performance in truck production, which is back to 1999 levels. I have already checked the figures three times," Anfavea President Luis Moan said.

From January to May, vehicle production fell 19 percent compared to the same period of 2014, with 1.09 million units produced. The figure is the lowest in eight years.

Besides, vehicle sales dropped 3 percent in May compared to April, and plummeted 27.5 percent compared to May 2014. From January to May, new vehicle registration fell 21 percent.

The bleak numbers are reflected in the sector's employment figures. Some 6,000 jobs were axed in the first five months of this year. Employment in the automotive sector fell 9.2 percent in May compared to the same month last year. Another 25,000 workers are currently on furlough.

"The employment level is equivalent to the level registered in 2010 and 2011," said Moan. Endi