Brazilian motor vehicle sales on the domestic market fell 26.6% in 2015, returning to 2006 levels, and could post another negative year in 2016, the National Motor Vehicle Manufacturers Association (Anfavea) said Thursday. Sales in 2015 were 2.57 million, down 26.6% from 2014. Production of 2.43 million was down 22.8% from 2014. The association said sales will likely decline another 7.5% in 2016 while production could eke out a small increase on rising exports. Brazil’s overall economy shrank by an estimated 3.5% in 2015 and will likely contract again this year, according to most economists. The economy has been hit by rising inflation, high interest rates and high levels of consumer debt.
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