Brazil's Auto Sales, Production Decline in January
February 04 2016 - 8:38AM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--New-vehicles sales, production and exports in Brazil
declined in January as the country's economic recession is hurting
consumer confidence.
Sales of cars, light vehicles, trucks and buses totaled 155,283
in January, down 31.8% from a year earlier, auto-makers association
Anfavea said Thursday.
Output fell 29.3% to 145,064 units in January from the
year-earlier period. By value, exports fell 18.3% in January to
$547 million.
Economists say a combination of weak economic growth, high
inflation and rising interest rates is hurting consumer confidence,
especially toward big-ticket items.
Brazil's economy contracted a projected 3.7% last year and is
expected to shrink 3% this year, according to economists surveyed
by the country's central bank.
The largest auto makers in Brazil by sales are Fiat Chrysler
Automobiles NV (FCA.MI), General Motors Co. (GM), Volkswagen AG
(VLKAY) and Ford Motor Co. (F).
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
February 04, 2016 09:23 ET (14:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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