Brazil, Part 2
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Brazil, China and India are outpacing the growth in many mature automotive markets—a trend that is likely to continue over the next few years. The Brazilian trade association Associação Nacional dos Fabricantes de Veículos Automotores (National Association of Motor Vehicle Manufacturers, or ANFAVEA) has estimated that vehicle sales in Brazil will rise 5% during 2012. In fact, the country has already overtaken Germany to become the fourth-largest vehicle market in the world, with sales of 3.6 million cars and light trucks in 2011.