Brazil Auto Industry To Invest $11.2 Bln By Next 3 Yrs
The Brazilian automotive business would make an investment if $11.2 billion by the next years (2010-12), a figure, which tops the $8.1 billion of the three previous years.
In a statement on the Internet portal Valor Online, Mr. Cledorvino Bellini, the new president of Brazil's National Automotive Vehicles Association, or Anfavea, stated, “The amount means that business proprietors believe in this country and in its automotive industry.”
How the money will be invested will be determined by each and every company, since some will give priority to developing novel products and others to raising production that presently stands at around 4.3 million vehicles.
Bellini added that utilization in developing nations, which is rising at a greater rate than the world average, will permit the Brazilian automotive business to swell production to enter those markets. (With Inputs from Agencies)