Blogs

Home | Blogs
Brazil ? Auto Sales in April Rose 16.7% over Previous Year
May 28, 2010

The automobile sales in Brazil rose 16.7% in April 2010 as compared to the same month a year ago on the back of improving credit lines and strong economic growth.
 
According to the National Automobile Dealership Association or Fenabrave, automobile sales in Brazil rose 16.7% in the month of April 2010 as compared to the same month a year ago (April 2009), as reported by ADVFN India.
 
The sales of light vehicles and cars flared up to 261,922 units in April 2010, an increase of 16.7% against April 2009 but a decline of 22.37% against March 2010. When the sales of buses and trucks are included, the total automobile sales reached 277,859 units, up 18.55% over the year.
 
Although the sales dropped by 20.1%, Fiat retained its position as the hottest sell in Brazil during April 2010 by reporting total new vehicle sales of more than 58,833 units, said Anfavea. Volkswagen came second with the total sales of 55,678 units. General Motors came third with the total vehicle sales of 50,177 units. Ford came fourth with 27,417 units.
 
The automobile sales in Brazil surged owing to improvement in credits. The rising new credit lines contributed to the purchasing of new vehicles across Brazil.
 
Apart from this, the booming economy of Brazil has also helped in raising the automobile sales. The country’s economy sustained its robust growth on the back of better performance of service and industrial sectors that benefitted from strong domestic demand. It raised the consumer confidence and therefore customers came to purchase vehicles.
 
A market research report “Brazil Automobile Forecast to 2013” by RNCOS states that the country’s automobile industry is expected to sell 3.8 Million units of cars by 2013 and the sales of light vehicles will climb to 0.66 Million units in the same period (by 2013).
 
The investments will also give impetus to the automobile sales in Brazil. Anfavea has recently revealed that the automotive industry will make an investment of $11.2 Billion during the three-year period between 2010 and 2012.
 
According to a Research Analyst at RNCOS, “The Brazilian automobile industry has been witnessing fast pace growth for the past few months. With such a stupendous growth, Brazil is anticipated to left behind Germany and become the fourth largest new cars market worldwide. The country’s huge population base makes Brazil potential market against Germany.”
 
Related Market Research Reports: