GM Generali

23.33

-0.15 (-0.64%)

14:36:43 - Realtime Data

Share Name	Share Symbol	Market	Type
Generali	AQEU:GM	Aquis Europe	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.15	-0.64%	23.33	23.33	23.34	23.40	23.07	23.31	128,130	14:36:43

Brazil Automakers Back To Asking For More Tax Breaks -Report

14/04/2009 2:39pm

Dow Jones News

Generali (AQEU:GM)
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Brazil automakers are back to asking the government for more tax breaks, the local business daily Valor Economico reported Tuesday.

Jose Carlos Pinheiro Neto, vice president of General Motors do Brasil Ltda., sent a request to Trade Minister Miguel Jorge for a temporary exemption of the ICMS sales tax for auto parts the major car companies buy.

The newspaper reported that Neto was looking for more breaks in order to help with a severe drop in exports for GM and competitors. Exports have declined by more than 50% year over year as the financial crisis continues in Brazil's biggest auto markets.

On Monday, Jorge said that the government had "no plan B" to help automakers beyond the success of its temporary cut in the IPI industrial production tax, in affect since December.

-By Kenneth Rapoza, Dow Jones Newswires; 5511-2847-4541; kenneth.rapoza@dowjones.com