Brazilian Vehicle Sales Slip 2% in March

Sales of cars, trucks and buses in Brazil dropped to 300,600 units last month from 306,100 units in March 2011, according to ANFAVEA, the country's automaker association.

The group says combined vehicle sales in the first quarter slipped 1% to 818,400 units compared with the same period last year.

Results were similar for light vehicles. ANFAVEA says volume declined nearly 2% year-on-year to 283,800 units last month. First-quarter demand totaled 772,300 vehicles compared with 777,700 units in January-March 2011.

Imported light vehicles accounted for 23.6% of Brazil's total sales in March, down from 27% in December. The country imposed a 30% tariff last autumn on vehicles with less than 65% local content to stem a flood of imports. A sharp increase in Brazil's currency, the real, made foreign-built vehicles cheaper.