Rome

Fiat takes 26.17% of Brazil car market - best since 2009

Fiat Brazil Oct 2012 registrations grow 45% over last year

Fiat takes 26.17% of Brazil car market - best since 2009

Rome, November 19 - Fiat announced on Monday it had garnered 26.17% of the Brazilan market in October - its best results in that country since April 2009. Fiat achieved substantial gains over its 21.55% Brazilian market share last January by growing its business at roughly twice the rate of the industry average, the automaker noted on its "Carindustryanalysis" Wordpress blog on Monday. Fiat saw an increase of 20,313 vehicle registrations in October 2012 over the same month last year, marking an annual growth rate of 45% compared to the market average of 23%. Fiat's popular Palio and Siena models were responsible for the majority of the automaker's gains in Brazil. The compact car models benefited especially from a Brazilian tax-break on purchases of domestically produced vehicles. The tax break, which was due to expire in August, was extended to December 31.

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