Brazilian automotive exports surged 20% higher than a year earlier in April to reach the second highest number of vehicles shipped since at least 2009. That was led by a 77% surge in light truck shipments, suggesting similar regional growth trends to those seen in the U.S. Brazilian manufacturing facilities have a relatively low direct exposure to the NAFTA region, and specifically U.S. demand, with only 5% of volumes heading there. The leading export market in the first quarter was Argentina (25% of the total, led by Renault) and Chile (20%, including GM and Nissan).