Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1

Your post has been submitted successfully!

http://www.foxbusiness.com/news/2012/09/06/brazil-august-aut...

Auto sales in August rose 15% from July and 28% from a year earlier to an all-time high of 420,080 units, the National Association of Motor Vehicle Manufacturers, or Anfavea, said Thursday.
Production rose 1% last month from August 2011, reaching a record 329,266 vehicles, while auto exports fell 3.5% from a year earlier to $1.42 billion, Anfavea said.
Brazil reduced auto taxes in May after slowing economic growth and tighter auto credit led to a drop in sales. The tax breaks were set to expire at the end of August, spurring the jump in last month's sales, but the government decided last week to extend the breaks for another two months.
"The reduction of the IPI [tax] has a multiplier effect on the economy," Anfavea President Cledorvino Belini said at a press conference, adding that the auto sector accounts for 23% of Brazil's industrial output and 200,000 jobs.



Still no change to ITRN's stock price lately.

Hodges
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement