Brazil Auto Sales, Production, Exports Decline in April
May 05 2016 - 12:40PM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--Brazil's sales, production and exports of new
vehicles declined in April, as the deep economic recession
persists.
Sales of cars, light vehicles, trucks and buses fell 27.5% from
a year earlier to 162,939 units, auto makers association Anfavea
said Thursday. In the first four months of the year, sales fell
27.9% to 644,250 units.
Output fell 22.9% to 169,813 units in April from a year earlier,
and dropped 25.8% to 658,745 units in the first four months.
By value, exports dropped 3.2% in April to $811.9 million and
7.6% to $3.02 billion in the four-month period.
Economists say a combination of weak economic growth, a high
inflation rate and rising interest rates is hurting consumer
confidence, especially toward big-ticket items.
Brazil's economy contracted 3.8% last year and is expected to
shrink by a similar amount this year, according to economists
surveyed by the country's central bank.
The largest auto makers in Brazil by sales are General Motors
Co. (GM), Fiat Chrysler Automobiles NV (FCA.MI) and Volkswagen AG
(VLKAY).
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
May 05, 2016 12:25 ET (16:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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