Lingering gloom as Brazil's car sales continue to plummet

摘要

In October Brazil's car sales data spelled out for the 22nd consecutive month that the sector was shrinking fast, according to FENABRAVE data. To no one's surprise, the vast majority of car market participants suffered a further severe dose of bloodletting, but one development in particular simply could not fail but take some observers by surprise. Fiat and Volkswagen, the absolute Kings in Brazil's previously lucrative car market are bearing the brunt of the relentless competitive pressures pounding this shrinking market, resulting in eye-watering market share losses for both former front runners.