The Brazilian automotive industry has broke the record for cars sold for the fifth year in a row. The country has now become the world's fifth largest car market. Although they are lower than forecasts, the new data are nonetheless respectable, in a climate of global economic-financial crisis.
According to Fenabrave, the Brazilian Vehicle Distribution Federation, 2011 million cars, trucks and buses were sold in the country in 3,63, an increase of 3,6% compared to 2010. However, the year ended negatively, with a December at -8,9% year on year due to the introduction of the new tax on imported vehicles, which took effect in the middle of the month. The tax represents a 30% increase in the Ipi (tax on industrial products) that will remain in effect until the end of 2012.
Despite the lower-than-expected result, Fenabrave expects a 4,5% increase in sales in 2012. Added to these news is the presentation by Ford of a new model, a new version of the Ecosport SUV, which will produced in Brazil and India. Ford expects to sell the new model in XNUMX countries around the world, particularly in Latin America and Asia.
Read the story in The Rio Times
