Brazil registered in October another month with important diminishing of the auto sales. The drop was fueled by the many national holidays, together with a rapid contraction of the economy following the 7.5% 2010 great expansion. Brazil has 190 million inhabitants and registered a 25% increase of the middle class in the last 10 years, thus becoming one of the most important world auto markets.
In October were sold 263,819 vehicles, with 8.3% less than the 287.586 vehicles sold in same month last year and with 10% less than the 293,607 sold in September 2011. On a cumulative basis, the sales during the first 10 months increased with 5.1% reaching 2.8 million cars sold and close to the annual target of 5%.
The carmakers sales performances in October were the following: Fiat sold 57,0000 cars (21.7% market share), Volkswagen – 53,300 units, General Motors – 49,800 and Ford – 22,700 vehicles.