SAO PAULO – The auto industry has invested about $500 million in the state of Rio de Janeiro over the last five years, most of it from heavy investments made by the PSA Peugeot Citroen and Volkswagen AG. Although Automobiles Peugeot and Automobiles Citroen officials were overly optimistic about the Brazilian market when they built their plant in Porto Real, Pierre Michel Fauconnier, head of the Brazilian group, says the “investment is successful and production is at a high level.” ...

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