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Brazil auto sales down 14 pct in July from year ago, source says
August 1, 2014 / 3:25 PM / in 3 years

Brazil auto sales down 14 pct in July from year ago, source says

SAO PAULO, Aug 1 (Reuters) - Automobile sales in Brazil fell 14 percent in July from a year earlier, a source with access to industry data said on Friday, deepening a slump this year as rising interest rates, weak consumer confidence and World Cup holidays weighed on demand.

Brazilians registered 294,800 new car, truck and buses in the month, said the source, who asked not to be named because the data had not been officially released. Sales have fallen 9 percent in the first seven months of the year from the same period of 2013, according to the industry data.

Compared to June, the data showed sales last month picked up 12 percent due to an extra two working days and fewer World Cup matches, which brought host cities to a standstill on game days during the month-long tournament.

Brazil is the world’s fourth-biggest auto market and a major base of operations for Italy’s Fiat SpA, Germany’s Volkswagen AG and U.S.-based General Motors Co and Ford Motor Co. (Reporting by Alberto Alerigi Jr.; Writing by Brad Haynes; Editing by James Dalgleish)

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