Brazil posts record auto sales in 2010

Automobile sales in Brazil reached record high for the fourth consecutive year in 2010, as the country is expected to witness the fastest growth in more than two decades.

Brazil’s auto sales increased by 11.9 percent to 3.515 million units in 2010 compared with the previous year, said the National Motor Vehicle Distribution Federation (Fenabrave) on Wednesday.

The sales of cars and light commercial vehicles stood at 3.329 million units, up 10.6 percent from 2009.

While the sales of buses went up by 25.3 percent, truck sales increased 44.4 percent. Motorbike sales rose 12.1 percent to 1.8 million units.

Italian automaker Fiat remained as the market leader with sales at 760,474 units in 2010. Its market share was 22.84 percent.

Volkswagen sold 697,342 units with a market share of 697,342 units. General Motors stood at third position with sales of 657,622 units. Ford sold 336,309 units occupying the fourth place.