There was a time when all every one could talk about was the legend the BRICs had created, but recent times has seen struggling markets in both Russia and Brazil and their market growth is under tremendous pressure. BRIC has come to a point where only the IC part of it has sustained and the rest has gone underwater. Recent steps taken by Brazilian Govt to impose consumer tax on new vehicle rusted increased vehicle rice between 4.5 to7% ranges. Getting Auto loans is also getting difficult due to current economy scenario. Inflation is also on increased.
Source: Autobei
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