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In October Brazil’s car sales data spelled out for the 22nd consecutive
month that the sector was shrinking fast, according to FENABRAVE data. To no one’s surprise, the vast majority of car market participants suffered a further severe dose of bloodletting, but one development in particular simply could not fail but take some observers by surprise. Fiat and Volkswagen, the absolute Kings in Brazil’s previously lucrative car market are bearing the brunt of the relentless competitive pressures pounding this shrinking market, resulting in eye-watering market share losses for both former front runners
Latin America’s biggest car market, still seen as a car sales dynamo during the heydays of the BRIC market era, first came to a screeching halt in 2014 and sales have continued to spiral downwards ever since.
Judged from latest car sales data, and already ten months through the current year, there is little prospect of a quick turnaround, keeping this year’s frail-looking Brazilian car market
on course for the lowest annual car sales in a decade...more
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