Automotive sales down 16% in 2015
The withdrawal of incentives including a reduced Tax on Industrialized Products (IPI), lower credit offerings, and tighter household budgets are among the factors behind the decline in sales
The automotive sales dropped 19.5% in April compared to the same period last year, the Brazilian Institute of Geography and Statistics (IBGE) reported Tuesday (June 16).
In the year to date, the sales have gone down 16%, the sharpest decrease among all surveyed industries. The cumulative 12-month sales figure reflects a 12.6% decrease.
According to the IBGE, the withdrawal of incentives including a reduced Tax on Industrialized Products (IPI), lower credit offerings, and tighter household budgets are among the factors behind the decline in sales.
Translated by Mayra Borges
Fonte: Automotive sales down 16% in 2015
