BRAZIL: Vehicle production, sales, remain on upward curve
Vehicle production in Brazil rose 3.9% and sales were up 0.6% in July from a month earlier according to national automaker's association Anfavea.
Local carmakers produced over 307,000 new cars and trucks during the month while sales were over 306,000 vehicles.
Brazil has enjoyed double digit sales growth thanks to a booming economy during the first half of the year althnough this fell to 4.5% in June as rising interest rates and government steps to curb credit raised the cost of car loans.
The economy grew 7.5% last year and, with a burgeoning middle class, Brazil has become a crucial growth market for carmakers as other economies stagnate.