Brazil's truckmakers are optimistic again even as country struggles to grow [Reuters]
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Source: Reuters
Brazil's truckmakers are optimistic again even as country struggles to grow - Reuters 4 Min Read SAO PAULO, Oct 14 (Reuters) - Brazil’s largest truckmakers are expressing optimism again about the growth prospects for Latin America’s largest economy, even as the country continues to struggle to rebound from a deep recession that began in 2015. “We are breathing optimism,” said Martin Lundstedt, Volvo Group’s President and CEO, who traveled to Sao Paulo to take part in the biennial Fenatran expo, the largest truck and machinery trade show in the country. “Latin America ... is coming back. We are having a very strong year.” Economic growth, however, has been sluggish in Brazil, with economists now expecting less than 1% growth in 2019, a forecast that has undergone several downward revisions since the year began. Still, for all their rhetoric, Brazil’s top four truck makers did not announce new investments in the country. Truck sales and production have defied the broader economic trends
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