Flex Fuel Vehicles - Brazil automakers set record sales, output in June

[WhiskeyGirl]

Fri Jul 4, 2008

SAO PAULO, July 4 (Reuters) - Brazilian automobile manufacturers produced and sold a record number of new vehicles in the first half of 2008, with flex-fuel cars leading the surge, the auto manufacturers' association, Anfavea, said on Friday.

Increased disposable income among Brazil's middle class and poor have been driving an economic boom.

Domestic sales rose by 30 percent over the first six months of 2007 to 1.41 million units. In June alone, sales rose 5.8 percent from May and jumped 28.8 percent from the month a year ago to 256,000 units, the association said.

The sale of light cars with flex-fuel motors, which can run on any combination of gasoline or ethanol, has been the driving force behind the strong performance in the sector. Those sales accounted for 87.5 percent of all new car sales in June, compared with 87.6 percent in May and 86.2 percent in June, 2007.

Automakers sold 212,533 flex-fuel vehicles in June compared with 201,359 units in May and 162,737 units in June last year.

Read more here -
http://www.reuters.com/article/marketsNews/idUSN0435264620080704