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Results clearly show the strength of the internal market.
The Brazilian Association of Vehicle Producers reported today that Brazilian vehicle sales hit 300,157 unit in June 2009, 17.2% higher than June 2008, bringing the total of Jan-June 2009 to 1,449,787 units, 3% higher than in 2008.
Flex fuel vehicles sales totalled 1,230,994 units, or 88,3% of the total.
From January to June vehicle production was 1,463,707 units, which is 13.6% lower than last year. Exports were US$ 0.61B in June, an increase of 1.5% compared to May, but a decline of 52.7% compared to 2008.
Exports for Jan-June 2009 were $3.3B, 51% less than last year.
Automobile sector employment was 119,511, a drop of 0.7% compared to May, and 5.6% with June 2009.
Clearly, the internal market more than compensated for the drop in the external market. Government incentives seemed to have been quite effective.
As we stated eqrlier, a safer place to invest is not in treasuries or money markets, it is in econonies that are growing. North american economies will not grow for many years to come. Their debts cannot be repaid unless (their currencies are devalued).
3 comments:
As an average joe, how can we trade in the Brazilian market besides the ETFs? I actually spent some time last month for research on this, but couldn't come up with anything.
Or were you thinking of another method in your last paragraph?
Thanks!
traderpau: ETF are one way, the currency ETF is another (BZF), and for a list of Brazilian ADRs a that trade on the NYSE please see:
http://nexalogic.com/brazil.html
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