Brazil motor industry booms
Brazil produced 1.89 million vehicles this year to become the world’s sixth biggest car maker, it has been reported.
New figures published by the National Association of Vehicle Manufacturers (Anfavea) found the Latin American country’s automobile industry has produced the sixth highest number of vehicles worldwide during the first half of 2008, according to Brazzil Magazine.
Those looking at Brazilian property for sale could be interested to hear that the nation has overtaken France to sixth, which hints at economic buoyancy in the country.
Last year the French industry built 3.02 million vehicles compared to Brazil’s 2.97 million but they now trail in the 2008 figures by 120,000.
Jackson Schneider, Anfavea president, said: "It is a natural accommodation of the productive chain, which is complex and broad, so it is better to grow in the long run at a slower rhythm than in the short run and with great leaps."
It was reported by ANBA last week that Brazilian property could be set to benefit form the country’s booming middle class.
Latest figures from the Getulio Vargas Foudnation show the nation’s middle class has boomed by nearly ten per cent to 51.89 per cent since 2004.
