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.
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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.
