SAO PAULO: Brazil’s sales, production and exports of new vehicles declined in April, as the deep economic recession persists. Sales of cars, light vehicles, trucks and buses fell 27.5% from a year earlier to 162,939 units, auto makers association Anfavea said Thursday. In the first four months of the year, sales fell 27.9% to 644,250 units. By value, exports dropped 3.2% in April to $811.9 million and 7.6% to $3.02 billion in the four-month period.
Economists say a combination of weak economic growth, a high inflation rate and rising interest rates is hurting consumer confidence, especially toward big-ticket items. Brazil’s economy contracted 3.8% last year and is expected to shrink by a similar amount this year, according to economists surveyed by the country’s central bank.
