Brazilian car sales fall 15.5 percent in August
2/9/2008 16:42
Car sales in Brazil slumped 15.5 percent from the previous month to
230,000 units in August, local daily Folha de Sao Paulo reported
yesterday.
The cooling of the market is attributed to a higher interest rate
set by the government to check rising inflation, the report said.
A decline
in car sales is expected in the second half of the year, it added.
Some 1.8
million cars were sold in Brazil between January and August this year, an
increase of 26.3 percent year-on-year.
Italian company Fiat, which sold
460,200 cars in the period, leads the Brazilian auto market with a 25-percent
share, followed by Volkswagen, General Motors and Ford.
Auto companies in
Brazil now expect to keep monthly sales above 200,000 units until the end of the
year.
Xinhua
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