Brazil’s auto sales reached the lowest level since November 2008, according to data released by the nation's automobile dealers' association, Fenabrave.
According to Fenabrave, auto sales in February 2015 fell 27.3 percent to 178,822 units, year-on-year, and 26.6 percent month-on-month.
From January to February this year, Brazil auto sales reached 422,717 units, Fenabrave said.
Fenabrave also downgraded its forecast for sales in 2015. According to the association, the decrease in auto sales in 2015 will reach 10 percent, instead of 0.5 percent, as previously reported.