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Fiat has record year in Brazil as 2012 sales jump 11%

Firm keeps top spot for 11th year running and gains market share

Fiat has record year in Brazil as 2012 sales jump 11%

New York, January 3 - Italian carmaker Fiat SpA said it had record sales in Brazil in 2012, countering slumping sales in its home market of Italy. In a statement Thursday, the Turin-based company said: "Fiat beats its production and sales records in 2012, with more than 838,000 cars registered" in Brazil - its best performance ever in its 36 years in the country. From January through December 838,219 cars and light trucks were registered, up 11% on the previous year, Fiat said, adding its sales growth outperformed those of the broader market. Fiat's last, best year in Brazil was in 2010, when it sold 760,495 cars and light trucks, the company said. Its market share in the country increased to 23.1% in 2012 from 22% the previous year. The company said it held on to the number one spot in Brazil for the 11th consecutive year in 2012, a year in which the overall market - some 3.6 million units - grew by 6.1% on 2011. The head of Fiat's Latina American unit said: "We were careful to identify the recovery in the market and were prepared to accelerate production at the right moment, conquering positions and market share".

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