According to a report issued by Brazilian auto dealer association Fenabrave, in August this year new motor vehicle registrations in the country increased 11.5 percent compared to July and were up 10.2 percent year on year, totaling 580,843 units. However, in the first eight months of the year, Brazilian new motor vehicle registratrions were almost stable compared to the same period of 2011 at 3,764,755 units.
In the month in question, Brazilian new car registrations rose 16.25 percent month on month and were up 37.76 percent compared to August 2011 reaching 325,791 units, while new light vehicle registrations in August came to 79,727 units, increasing 12.1 percent compared to the previous month and up 11.8 percent year on year. In the January-August period of this year, total new registrations in the car and light vehicle segment increased by seven percent on year-on-year basis to 2,389,252 units.
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, "Due to the measures adopted in May and to be maintained by the government until the end of October, the segments of cars and light commercial vehicles must now present growth of more than eight percent this year."