Brazil’s federation of carmakers, ANFAVEA, is refusing to offer a forecast for 2009 sales in Brazil due to market uncertainties.
“The market is too uncertain to make forecasts now,” said the group’s president, Jackson Schneider, speaking to reporters in Sao Paulo.
Despite a slowing economy, and a severe drop in exports to Brazil’s main overseas automotive markets, Schneider said the big international car makers weren’t talking about reducing their investment plans for new car lines.
“No manufacturer has said it would cut back on its investment strategy yet,” he said.
Sales of new cars and pickup trucks rose 1.5% to 197,454 units in January thanks to a temporary tax break that gave automakers the room to slash sticker prices on new vehicles by as much as 7.4%.
Auto production in Brazil picked up in January but was still 27% lower than for January 2008.