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BRAZIL
Rethink on car tax spurs rebound in Brazilís car market
The re-introduction of lower vehicle taxes on newly bought cars from 1 April, triggered a major rebound in Brazilian new car demand
Published: Tue, 04 June 2013 17:57:35 GMT
 

Fiat Linea Brazil 2013 buildings

The re-introduction of lower vehicle taxes on newly bought cars from 1 April, triggered a major rebound in Brazilian new car demand. The governmentís rethink, sparked by two successive months of ebbing sales, triggered a strong 30.3 per cent jump in April new car sales to almost 246,000 units, thus painting an altogether brighter picture for this yearís car sales and production prospects

Volatility has long been a watchword for Brazilís overall market. 

Despite widely shared gloomy earlier expectations for the current year, and the extreme swings in buying behaviour seen since the start of this year, this yearís Brazilian new car market is likely to shape up markedly better than even optimists could have predicted only a couple or so months ago. 

The reasons for this sudden transformation are only too easily spotted. 

Thatís chiefly the governmentís decision to cut Brazilís IPI tax (Tax on Industrialised Products) on cars between now and the end of this year.

Overnight, the tax cut prompted an upward revision of full year car sales and production forecasts
...more
 

MORE LIKE THIS:


Going native pays off for Hyundai in Brazil  04 Jun 2013


Indiaís tiger no longer roars  30 Apr 2013


Chinaís car market lost little fizz since start of this year  30 Apr 2013



DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:

BRAZIL new CAR sales:
BRAZIL new car sales by manufacturer and marque APRIL 2013 v APRIL 2012
BRAZIL new car sales by manufacturer and marque 4-MTHS 2013 v 4-MTHS 2012

BRAZIL TOP 20 TOP BEST SELLING new MODELS APRIL 2013 v APRIL 2012
BRAZIL TOP 20 TOP BEST SELLING new MODELS 4-MONTHS 2013 v 4-MONTHS 2012

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