Brazil Vehicle Sales Fall 7.6% in February
March 07 2017 - 11:40AM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--New-vehicles sales in Brazil declined in February, as
the country's poor economy and high level of unemployment
discouraged buyers from making big-ticket purchases.
Sales of cars, light vehicles, trucks and buses totaled 135,665
in February, down 7.6% from a year earlier, auto-makers association
Anfavea said Tuesday. In the first two months of 2017, vehicles
sales dropped 6.4% to 282,884 units.
Brazil's gross domestic product shrank 3.6% in 2016, following a
contraction of 3.8% in 2015.
Economists see no recovery for the labor market soon.
Joblessness rose to 12.6% in the three-month period through
January, a record high for the Brazil's statistic bureau IBGE's new
jobless measure, which started in 2012.
On the other hand, vehicle output increased 14.7% to 200,385
units in February from the year-earlier period, while for the
January-February period it picked up 28.1% to 375,098 units.
By value, cars made in Brazil and then exported jumped 46% to
$1.18 billion for February and picked up 46.4% in the first two
months to $1.99 billion.
The largest auto makers in Brazil by sales are General Motors
Co. (GM), Fiat Chrysler Automobiles NV (FCAU) and Volkswagen AG
(VOW.XE).
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
March 07, 2017 11:25 ET (16:25 GMT)
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