Brazilian automotive industry delights in increasing sales

Despite a difficult economic situation, the Brazilian automotive industry was able to sell a total of 4.8% more cars in 2012, than in the previous year. The reason for the increasing sales is the reduction of the tax on industrial products, which was launched earlier this year by the Brazilian Government. A total of 3.4 million new cars were sold on the Brazilian market from January to November 2012. Despite rising sales, the reduction of the tax runs out at the end of December this year. It is hoped that the Brazilian automotive sector will continue to boom in the coming years, even without a tax cut.