Brazil auto sales rise 5.4% in May
Brazilian car, truck and bus sales rose by 5.4 per cent in May, compared to the month before, showing further signs that the country’s economy may be improving.
The national dealers’ association Fenabrave reported that 246,981 vehicles were sold last month, up by two per cent compared to the 242,047 units sold by domestic dealers in the same period in 2008.
Meanwhile, the number of vehicles sold in May was up from 234,282 in April, which is perhaps good news for Brazilian property investors keeping a close eye on the economy.
The country has seem a boom in sales so far in 2009, with figures only dropping in April following four straight months of gains.
They have been boosted by the government’s tax breaks, aimed at reviving struggling sectors of the economy to protect the country from the global financial crisis.
Meanwhile, James Gonzalez, market analyst at Obelisk Investment Property, recently said that the Brazil real estate sector has "everything going for it" due to the economic and political stability in the country.
