Around the Net
Brazil, On The Other Hand...
- Reuters, Thursday, October 30, 2014 9 AM
This week is the Sao Paulo Auto Show, but it's not so sunny south of the equator. Automakers in Brazil are facing the sharpest slowdown since 1999, and there isn't a bright spot for another year at least. "It looks like the market is in for a difficult time until 2016," said Koji Kondo, Toyota Motor Corp's Brazil chief executive. Sales of cars and light trucks have fallen 9% so far this year compared to the first nine months of 2013. Blame tighter credit and consumer confidence jitters.
