Hopes that the Brazilian auto market was relatively insulated from the global downturn in auto markets are evaporating. Vehicle sales in Brazil have fallen further for the second straight month.
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After falling 10.94% in October compared with September, the plunge in November from October was 25.66% to 177,906 vehicles (compares with 239,329 in October).
The market numbers were disclosed yesterday by the National Federation of Automotive Vehicle Distributors (Fenabrave).
November registered the lowest volume of automotive sector sales since the 179,000 units of April 2007.
Passenger car sales reached 132,548 units in November, some 26.9% less than in October.
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