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BRAZIL -
Brazil’s car market stopped
dancing |
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The first big salvo in a potential
marketing battle was fired with last September’s
announcement of a 30 percentage point increase in Brazil’s
IPI Industrial Production tax for both imported cars and
those with less than 65 per cent Mercosur content. The broadside, instigated by Brazil’s concerned automotive lobby, and effective since mid-December last year, is aimed principally at Japanese, Korean and Chinese carmakers and is intended to protect Brazil’s vehicle and automotive component industry. Car imports, helped by the sharp recent appreciation of Brazil’s Real, were rising at their fastest rate since records began last year - growing 34.3 per cent to 578,931, according to Anfavea figures, and Asian carmakers were among last year’s fastest gainers  Fiat 500 joins Fiat’s Brazilian line-up
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