Brazil's auto production fell in June

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Source: Marketwatch
Auto production in Brazil continued to contract last month despite recent government's tax breaks that have provided some support for the industry. Vehicle output dropped by annualized 9.4% in the first half 2012. At the same time auto sales declined by 1.2% on a yearly basis; however, sales were 23% up from the May's figure. The market has strong growth potential taken recent interest rates cuts and credit growth, said Cledorvino Belini, president of the Brazilian Motor Vehicle Manufacturers Association.


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Fri, 06 Jul 2012 06:21:43 GMT

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