Mercedes Benz Brazil to invest 1.4 billion reais for new trucks, but exports still weak [Reuters]
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Mercedes Benz Brazil to invest 1.4 billion reais for new trucks, but exports still weak - Reuters 2 Min Read SAO BERNARDO DO CAMPO, Brazil (Reuters) - The Brazil unit of Mercedes Benz, the local market leader in trucks and buses, said on Tuesday it will invest 1.4 billion reais ($340 million) to launch of a new line of trucks as it expects the domestic market to grow in 2020, even if exports could fall. “Argentina is our biggest export market, and it showed signs of recovery in the last two months but it is going to fall again from now on, that is clear,” said Philipp Schiemer, president of Mercedes Benz for Brazil and Latin America. The investment is part of a previously announced package that should total 2.4 billion reais ($582.6 million) until 2022. Schiemer told reporters at the Mercedes Benz factory in Sao Bernardo do Campo, an industrial suburb of Sao Paulo, that exports for Brazil-made trucks and buses now account for less than 30% of its production, while at its peak it accou
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