New vehicle sales in Brazil up 13.1% y/y in November

Automotive sales in Brazil rose 13.1% year-on-year to 230.938 units in November, decelerating sharply compared to the 25.6% y/y hike scored in October, CEEMarketWatch reported citing figures released by the National Automotive Vehicle Distribution Federation (Fenabrave).

Passenger sales, which accounted for 87% of the total sales, increased 13.7% y/y during the month of reference, while light commercial vehicle purchases grew only 3.4% y/y. Motorcycle sales also climbed 17.7% y/y in November.

Despite the deceleration, sector’s sales improved 15.1% y/y to 2.026.759mn units between January and November. Fenabrave raised its 2018 growth forecast for car and LCV sales from 9.7% to 11.9%.

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