Unconfirmed reports have said new vehicle sales in Brazil jumped 17% to a record 300,200 in June from 256,000 in the same month a year ago after the government cut automobile taxes.
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Industry sources told Bloomberg News the increase would represent a 22% from May. Anfavea, Brazil’s automakers association, is not due to report the data until 6 July.
Bloomberg noted Brazil had lowered taxes on the purchase of cars, home appliances, construction materials and some food staples since December. This week the government decided to extend tax cuts to the end of September, while lowering interest rates.
Anfavea said last month that improving sales in June would prompt a review of its 2009 forecasts. Sales, which the group estimated would drop 3.9% to 2.71m units this year, may now rise to a record, Anfavea’s president Jackson Schneider said earlier this week.
