Auto industry to invest $5 bln in Brazil in 2008


SAO PAULO, March 27 (Reuters) - The automobile industry will invest $5 billion in 2008 in capacity expansion in Brazil to keep up with growth in domestic demand, the president of Brazil's automakers association Anfavea said. Anfavea President Jackson Schneider outlined the investment forecast late on Thursday in a meeting with Brazil's finance minister, Guido Mantega. Production capacity should rise from the current 3.5 million units to 3.8 million units in 2008. He added that automakers ...

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