SAO PAULO – Financing by banks associated with automotive companies fell 21% in May from April due to economic turbulence in Brazil. The auto industry has 162,400 vehicles in stock, sufficient for 451 days of sales at current rates of 2.1% to 2.4%. Some auto makers are offering financing at 0.98%, low by Brazilian standards, and discounts of up to 15% on the price of cars.
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