Brazil ‘could become fifth biggest car producer’
Brazil could overtake South Korea to become the fifth biggest producer of cars this year, an expert has said following the release of figures showing vehicle sales were up by 36.2 per cent in March.
Marcelo Cioffi, auto industry analyst at PricewaterhouseCoopers, tells Reuters: "The measures taken by the Brazilian government to encourage car sales were certainly more effective in relation to those adopted in the United States and Europe."
He predicts that there will be a 5.9 per cent rebound in Brazilian vehicle production in 2010 to 2.85 million units, plus a further 6.3 per cent rise to 3.03 million in 2011, according to the news provider.
The National Association of Motor Vehicles attributed the boost in March sales to the government’s tax break for consumers.
Last week, experts suggested that industry is on the up in Brazil on the back of a 9.2 per cent rise in production levels for the automotive sector between January and February.
