x Abu Dhabi, UAESaturday 22 July 2017

Brazilian car sales on the up

In a rare bright spot for the automotive industry, car sales in Brazil have increased this year.

BRASILIA // In a rare bright spot for the automotive industry, car sales in Brazil have increased this year. Newly released figures show a 36.1 per cent increase between February and March this year. Fiat, Volkswagen, General Motors and Ford are the market leaders. The Brazilian government has offered tax breaks to the nation's automakers to prevent further layoffs. The increase is part of a general trend towards gradual economic recovery in the South American nation. After a record 655,000 jobs were lost in Brazil in December, the last month has seen 35,000 workers regain employment and bank lending rebounding after falling in February. Inflation fell to an 11-month low of 5.4 per cent.