The vexed question of the Real is bothering Iveco.

Seems like those pesky Brazilians cannot keep their currency under control, and it keeps appreciating in value. This is a problem for Iveco, which has invested a large sum of money in the place, and now finds itself being priced out of a number of Latin American markets: this Bloomberg report cites the example of Chile, but, looking at the stellar rise of the Brazilian currency over the past few months, presumably what is bad for Chile is bad for the rest too. This chart shows how it's been doing against the US Dollar over the past few years.

Moreover, this can't be doing many favours for Mercedes-Benz, Scania, and VW. What too is the impact of a currency hike on Volvo's engine sourcing from Curitiba?

This seems an odd time for Iveco to be kicking up though. Did it not announce fairly recently the investment of a large amount of cash in Sete Lagos?