Brazil Auto Sales, Production, Exports Decline in April

By Rogerio Jelmayer

SAO PAULO--Brazil's sales, production and exports of new vehicles declined in April, as the deep economic recession persists.

Sales of cars, light vehicles, trucks and buses fell 27.5% from a year earlier to 162,939 units, auto makers association Anfavea said Thursday. In the first four months of the year, sales fell 27.9% to 644,250 units.

Output fell 22.9% to 169,813 units in April from a year earlier, and dropped 25.8% to 658,745 units in the first four months.

By value, exports dropped 3.2% in April to $811.9 million and 7.6% to $3.02 billion in the four-month period.

Economists say a combination of weak economic growth, a high inflation rate and rising interest rates is hurting consumer confidence, especially toward big-ticket items.

Brazil's economy contracted 3.8% last year and is expected to shrink by a similar amount this year, according to economists surveyed by the country's central bank.

The largest auto makers in Brazil by sales are General Motors Co. (GM), Fiat Chrysler Automobiles NV (FCA.MI) and Volkswagen AG (VLKAY).

Write to Rogerio Jelmayer at [e-mail]

(END) Dow Jones Newswires

May 05, 2016 12:25 ET (16:25 GMT)

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