Latest news with #Camex
Business Standard
11 hours ago
- Business
- Business Standard
Camex standalone net profit rises 47.54% in the June 2025 quarter
Sales rise 1.57% to Rs 34.37 croreNet profit of Camex rose 47.54% to Rs 0.90 crore in the quarter ended June 2025 as against Rs 0.61 crore during the previous quarter ended June 2024. Sales rose 1.57% to Rs 34.37 crore in the quarter ended June 2025 as against Rs 33.84 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 2 OPM %4.102.60 -PBDT1.280.88 45 PBT1.180.81 46 NP0.900.61 48 Powered by Capital Market - Live News
South China Morning Post
31-07-2025
- Automotive
- South China Morning Post
Brazil grants BYD exemption from EV tariff hike, but not for as long as sought
Brazil announced a compromise in a dispute between Chinese EV maker BYD and traditional carmakers on Thursday, granting the company a short-term tariff break while moving forward with hikes that will hit it more aggressively in the long run. The decision was reached in a closed-door session of the Chamber of Foreign Trade (Camex) on Wednesday but not released publicly until Thursday. It follows weeks of heavy lobbying on both sides, with carmakers warning of mass lay-offs and BYD accusing rivals of trying to shut out competition Under the measure, BYD will be allowed to import up to US$463 million worth of semi-assembled electric and hybrid vehicles over a six-month period without paying import taxes. This tariff-free window will apply during the first half of 2026, offering short-term relief as BYD ramps up local production. Separately, the government decided to bring forward a previously scheduled levy increase. The import tariff for electric and hybrid vehicle kits will now rise to 35 per cent in January 2027, a year and a half earlier than the original July 2028 timeline. Fully assembled vehicles will reach the same 35 per cent rate by July 2026, as previously planned. BYD had requested a reduced tariff through mid-2026 to ease the ramp-up of its new manufacturing plant in Camaçari, Bahia State. The company, investing R$5.5 billion (US$978 million) in the facility, argued that temporary relief was necessary as it builds up its local production capacity. But the proposal triggered an immediate backlash. In a joint letter to President Luiz Inácio Lula da Silva, the National Association of Automotive Vehicle Manufacturers, or Anfavea, warned that the exemption could put R$180 billion in planned investment at risk and eliminate as many as 50,000 jobs.
South China Morning Post
30-07-2025
- Automotive
- South China Morning Post
Brazil debates tariff break for BYD, with opponents warning of lay-offs and investment freeze
Brazil's government is facing mounting pressure as it decides on a request from Chinese carmaker BYD to reduce import tariffs for a year on semi-assembled electric and hybrid vehicles. The proposal, now under review by the Chamber of Foreign Trade, or Camex, has sparked a wave of opposition from global carmakers and regional governors who warn it could undermine Brazil's industrial base and lead to job losses. The Camex panel, which was meeting on Wednesday, was expected to render a decision shortly. BYD seeks a 10 per cent tariff on imports of partly assembled vehicles, known in the industry as SKD kits, until July 2026. Tariffs on such imports are 18 to 20 per cent. The Chinese company, a global leader in the manufacture of electric vehicles, said it needs the lower rates for a transition period while its factory in Camaçari, Bahia State, becomes fully operational. The goal is to reach 70 per cent local content by 2028, per a contract signed with the local government. The company's request includes an annual import quota exceeding US$2 billion, more than double BYD's announced investment of R$5.5 billion (US$978 million). That figure also represents nearly 60 per cent of the five-year federal budget for the government's Mover programme, aimed at stimulating the production of cleaner hybrid combustion vehicles.
Reuters
27-05-2025
- Business
- Reuters
Brazil government renews tariffs, quotas on steel products
SAO PAULO, May 27 (Reuters) - Brazil's government on Tuesday decided to renew 25% tariffs initially imposed last year on 19 steel products, while also expanding the trade defense measure to other four, Brazil's Ministry of Development, Industry, Trade and Services said. The decision, which was made by government trade body Gecex/Camex, and will be valid for a further 12 months, also maintained a quota system on the volume of steel imports, the ministry said in a statement. Brazil had initially announced those trade defense measures in April last year, after steelmakers complained about cheap foreign steel, specially from China, "flooding" the local market. In the statement, which did not name the new products to be affected by the tariffs, the ministry said that steel imports made in the context of trade agreements or special regimes would not count toward the quota volumes.
Business Standard
15-05-2025
- Business
- Business Standard
Camex standalone net profit declines 90.32% in the March 2025 quarter
Sales decline 1.01% to Rs 37.21 crore Net profit of Camex declined 90.32% to Rs 0.15 crore in the quarter ended March 2025 as against Rs 1.55 crore during the previous quarter ended March 2024. Sales declined 1.01% to Rs 37.21 crore in the quarter ended March 2025 as against Rs 37.59 crore during the previous quarter ended March 2024. For the full year,net profit declined 45.38% to Rs 1.89 crore in the year ended March 2025 as against Rs 3.46 crore during the previous year ended March 2024. Sales declined 5.75% to Rs 133.65 crore in the year ended March 2025 as against Rs 141.81 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 37.2137.59 -1 133.65141.81 -6 OPM % 5.565.59 - 2.953.28 - PBDT 0.832.17 -62 3.454.96 -30 PBT 0.482.09 -77 2.874.65 -38 NP 0.151.55 -90 1.893.46 -45
