Brazil's Auto Sales, Production Decline in January

By Rogerio Jelmayer

SAO PAULO--New-vehicles sales, production and exports in Brazil declined in January as the country's economic recession is hurting consumer confidence.

Sales of cars, light vehicles, trucks and buses totaled 155,283 in January, down 31.8% from a year earlier, auto-makers association Anfavea said Thursday.

Output fell 29.3% to 145,064 units in January from the year-earlier period. By value, exports fell 18.3% in January to $547 million.

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

Brazil's economy contracted a projected 3.7% last year and is expected to shrink 3% this year, according to economists surveyed by the country's central bank.

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

Write to Rogerio Jelmayer at [e-mail]

(END) Dow Jones Newswires

February 04, 2016 09:23 ET (14:23 GMT)

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