Ford Expects Brazil’s Auto Market to Set Record in 2012

Ford Motor Co. predicts industrywide vehicle sales in Brazil in 2012 will exceed last year's record 3.4 million units by an unspecified amount, Reuters reports.

Brazil's sales slid 5% year over year to 1.4 million vehicles in the January-May period, according to carmaker group ANFAVEA.

Rogerio Golfarb, Ford corporate affairs chief for South America, tells the news service that the company expects a "strong pickup" in the second half because of government actions to stimulate sales.

In late May, Brazil lowered the vehicle taxes levied on automakers and car buyers. The country's central bank eased reserve requirements for banks to encourage them to make more auto loans.