Boston, MA -- (SBWIRE) -- 07/17/2013 -- Passenger car sales in Brazil increased 1.8% year-on-year (y-o-y) in the first three months of 2013, to 613,220 units. Despite this weak growth, we maintain our forecast for 5.4% growth in 2013, however, as the government's recently extended tax breaks filter through to sales, and private consumption picks up somewhat over the year. We caution that there are some downside risks to this forecast as these dynamics may have a more limited effect on sales volumes than we currently envisage.

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