Latin America vehicle sales up 5%
A total of 4.28 million passenger and commercial vehicles were sold in Latin America during the first nine months of the year, up 4.9% from the same period last year, according to international vehicle data and consultancy firm Jato Dynamics.
While the economic crisis in Argentina and the credit situation in Mexico are hindering growth in the region, countries such as Brazil with double-digit year-on-year growth, as well as Colombia and Chile are helping to boost sales. Much of Brazil's sales is a result of imports coming from Argentina.
While Latin America’s growth performance is above key markets such as Japan, it falls behind China, the European Union, and the United States.