General Motors' Brazil Sales Seen Stable In May-Company Source
28 Mai 2009 - 5:40PM
Dow Jones News
General Motors do Brasil Ltda. will likely see flat sales in May
compared with April, a company source said Thursday.
As of the last week of May, sales at General Motors' (GM) Brazil
unit were keeping pace with April's sales. GM sold 34,318 cars in
April, down 16.7% from March, according to the Brazilian Motor
Vehicle Manufactureres Association, or Anfavea.
Brazil is GM's third biggest market behind the U.S. and China.
It is also the only market outside China that remains a growth
story for the troubled Detroit automaker.
Brazil's January to April auto sales are 0.7% lower than the
same period last year, when GM and competitors registered record
auto sales.
Brazil sold 916,224 cars over the four-month period thanks to a
temporary reduction in the IPI industrial production tax. The IPI
exemption led to a 7.5% reduction in average sticker prices on new
vehicles. The exemption ends on June 30.
-By Kenneth Rapoza, Dow Jones Newswires, 5511-2847-4541,
kenneth.rapoza@dowjones.com