Brazil auto sales down 2 percent in November image

Brazil auto sales recorded a 2 percent decrease in November compared with the same month last year but grew 16 percent over October.

The main cause for the slowing market compared to 2010 is that consumer demand continues to shrink in the face of a global economic downturn, Brazilian auto dealer association Fenabrave was quoted by Dow Jones.

Sales of cars and light commercial vehicles reached 305, 252 in November, with 3.1 million vehicles sold so far this year, Fenabrave announced on its website. In the first 11 months of this year, sales are up 4.3 percent, weaker than the 5 percent growth that was expected by the industry.

Automaker association Anfavea expects to close the year with 3.69 million vehicles sold. Anfavea president Cledorvino Belini said last month that he still expected to reach that target as sales at the end of the year are usually strong. He also said sales should be further boosted by interest-rate reductions that started in August.