According to a report issued by Brazilian auto dealer association Fenabrave, new car registrations in the country increased 25.9 percent year on year to 280,275 units in July, while a two percent jump is seen over new registrations recorded in June. In the first seven months of the year, Brazilian new car registrations rose four percent compared to the same period of 2011, totaling 1,554,481 units.
Meanwhile, Brazilian new light and commercial vehicle registrations in July reached 71,135 units, rising 7.7 percent month on month and up nine percent compared to July 2011. However, in the January-July period of this year new registrations in the light and commercial vehicle segment decreased by 0.3 percent on year-on-year basis.
Fenabrave president Flavio Meneghetti commented on the new measures covering tax cuts adopted on May 21 in order to increase auto sales in Brazil, stating, "Until the measures, results were negative and the current numbers show the importance of the sum of the efforts of government, the private sector and financial institutions."