Do More With Reuters
Partner Services

UPDATE 2-Brazil car sales may grow 10 pct in 2010 - dealers

Wed Nov 4, 2009 10:33pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Dealers see 8 pct sales growth in 2009 yr/yr

* Auto sales drop 5.2 pct in October from September

* Registrations for new cars rose 25.2 pct from Oct. 2008 (Recasts with details, quotes, forecasts)

SAO PAULO, Nov 4 (Reuters) - Car sales in Brazil could rise by 9 to 10 percent in 2010 from this year should forecasts for robust economic growth prove right, automobile dealers' association Fenabrave said on Wednesday.

Fenabrave also revised upward its forecast for sales this year, to an increase of 8 percent from 4 percent previously. If confirmed, registrations for new vehicles would reach a record 2.89 million units in 2009.

"The expectation for 2010 is based on Brazil's growth perspective," said Sergio Reze, president of the Fenabrave.

He said that economic growth forecasts of 5 percent next year for Brazil would make a 9 percent increase in car sales possible, even if prices rose a little.

In October, automobile sales in Brazil dropped 5.2 percent from the previous month, to 281,306 units, but were up 25.1 percent from a year earlier.

Brazil's automobile market has been one of the strongest in the world in recent months as government tax incentives have helped reduce car prices and lure consumers to showrooms.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

A man walks with the Indian national flag in front of the Taj Mahal hotel, one of the sites of last year's militant attacks, in Mumbai November 26, 2009.  REUTERS/Punit Paranjpe
One Year Later

Mumbai held tearful memorials as it marked the first anniversary of militant raids that killed 166 people.   Full Article | Full Coverage