Brazilian auto exports jumped 43% on a year earlier in July, though there has been a slowdown recently – shipments were down 10% from their May peak. Sales are focussed on south America, led by Argentina (33% of the total in the second quarter), reducing exporters’ exposure to the slowing U.S. market. Growth has been led by Renault, which increased exports 160% in the second quarter, while Volkswagen’s shipments fell 33% as it focuses on domestic sales.