Auto sales in Brazil rose to an all-time high in 2009
By Andrew C., 30 Aug, 2010. 0 Comments
In Brazil, auto sales were at an all-time high in 2009. Contributing to this result are the tax breaks and record-low interest rates that had helped the country's auto market prosper despite the economic downturn.
Brazil is Latin America's largest economy and it is a major market for Italy's Fiat S.p.A., Germany's Volkswagen AG, and U.S.-based General Motors Co. and Ford Motor Co. Sales in 2009 rose 11.35% from the previous year to 3.14 million units, a third straight annual record. Fiat held a 24.49% market share, followed by VW with 22.74% and GM's 19.79% share of sales last year, the national dealers' association Fenabrave said on Tuesday. When it comes to sales, Ford ranked fourth with 10.1% and Japan's Honda Motor Co. placed fifth with 4.18%. Sales of new cars, light vehicles, trucks and buses climbed 16.41 percent in December from November to 293,030 units, Fenabrave revealed.
[via autonews - sub. required]
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