SAO PAULO, Brazil -- Brazil's motor-vehicle were 1.4 percent higher in November than in October, the industry's main trade group, the National Association of Vehicle Manufacturers (Anfavea), said on Monday.
The sector notched up 138,800 new registrations of cars, trucks, and buses in the month, the association said. That compares with 130,300 in November last year.
Sales in the first 11 months of the year totaled about 1.4 million, 11.2 percent more than over the same period last year. Anfavea's target for the year is for 1.54 million new vehicle registrations.
Anfavea, which represents big companies like Fiat, General Motors and Volkswagen, also said the sector had produced 201,300 vehicles in November, 5.8 percent more than in October.
Production in the January to end-November period totaled about 2.02 million vehicles, a 20.8 percent improvement on the first 11 months of last year, the association said.
Brazil's motor-vehicle sector has enjoyed stronger sales this year as the local economy bounced back, and unemployment and central bank interest rates both fell.
Brazil's gross domestic product is expected to grow more than 4.5 percent this year on the back of booming exports and lower interest rates which helped boost domestic demand.
The government revised its figure for 2003 growth upwards to 0.54 percent growth last week.
Although Brazil's central bank has raised its main Selic interest rate by 1.25 percentage points to 17.25 percent since September in a bid to slow inflation, the lending rate remains significantly lower than last year's high of 26.5 percent.