Brazilian car-rental agency Localiza SA (RENT3.BR) announced Thursday an investment of 1.5 billion Brazilian reals ($762.3 million) to renew its fleet for the next 12 months.

Localiza said it acquired 52,575 vehicles. Of the total, 38,330 vehicles will be delivered in 2009.

The purchases will be made from Fiat SpA (FIATY), Volkswagen AG (VOW.XE), General Motors Corp.(GMGMQ) and Renault SA (RNO.FR).

The funds for the investment will come in larger part from Localiza's used-car sales revenue, the company said.

"There will not be necessary new loans to face this purchase," the company said. "New debts will be contracted only with the objective of extend the company's debt profile."

Localiza said the purchase of 52,575 cars represents approximately 2.25% of the total current national production for the domestic auto and light commercial cars.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-2847-4521; rogerio.jelmayer@dowjones.com