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GOVERNMENT HELP * Brazil - Auto credit at pre-crisis levels
Sao Paulo,Brazil -The Detroit News/Bloomberg News (USA) -18 Nov 2008: -- Brazil's central bank President Henrique Meirelles said consumer credit for automobile purchases has almost returned to pre-crisis levels. "In the last couple of days credit has almost returned to normal in the automobile industry," said Meirelles during an event at the Sao Paulo State Federation of Industries, or Fiesp. The government had state banks Banco do Brasil SA and Banco Nossa Caixa SA make available as much as 8 billion reais ($3.44 billion) for the financial arms of carmakers to help spur lending and sales. Brazil vehicle registrations in October fell for the first time in two years as credit dried up and interest rates rose...
Labels: autos' industry crisis
posted by Unknown @ 7:04 PM
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