Italy's largest carmaker Fiat set new production and sales records in Brazil in 2012, posting its best ever results in the 36-years that it has been operating in the South American country.
The automaker said on Thursday that it sold 838,219 passenger and light commercial vehicles, representing an 11.1 percent increase over 2011 when it delivered 754,276 units, and a 10.2 percent increase over the previous sales record of 760,495 units that was set in 2010.
Fiat managed to outperform the Brazilian market where sales of passenger cars and light commercial vehicles increased 6.1 percent, from 3,426,290 units in 2011, to 3,634,510 units last year, growing its share from 22 percent to 23.1 percent respectively.
"This year’s performance, our best in the 36 years since we began operating in Brazil, was attributable to the fact that we anticipated the market recovery and were ready to ramp up production at just the right moment to ensure we gained market position and share," stated Cledorvino Belini, Chairman of Fiat/Chrysler for Latin America.
Along with the sales record, Fiat also set an all-time production high in the country with 759,000 cars and light commercial vehicles built, a 12.5 percent increase over the previous year.