CORRECTED-Brazil's auto industry cuts forecasts for grim 2015

lunes 8 de junio de 2015 11:34 GYT
 

(Corrects to reflect estimate for production to drop 17.8 percent, not 17.6 percent)

SAO PAULO, June 8 (Reuters) - Anfavea, the Brazilian automakers association, slashed its estimates for 2015 domestic vehicle output and sales on Monday, as rising interest rates and crumbling consumer confidence batter the local operations of global carmakers.

Production is likely to drop 17.8 percent from last year and sales are likely to fall 20.6 percent, the group said. In April, Anfavea forecast a 10 percent drop in production and a 13 percent plunge in sales. (Reporting by Aluisio Alves; Editing by Jeffrey Benkoe)