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Toyota revs up for Brazil sales

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Auto sales grew 80 percent in the first half of this year.

Japanese automaker Toyota built their first overseas plant in Brazil in 1958. But since then the world’s largest automaker has languished in the South American giant that is now the world’s fourth-largest auto market. Although Toyota's models are perennial favorites in emerging markets, the Brazilian auto market remains dominated largely by four brands: Fiat, Volkswagen, General Motors, and Ford. But the company has plans to change that Toyota CEO for Latin America and the Caribbean Steve St. Angelo tells Latin Business Chronicle. With new investments and the introduction of new models, Toyota hopes to take a bigger share of a market that saw 3.8 million cars sold last year.

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