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Brazil government to expand program to lower auto prices

June 28 (Reuters) - Brazil's government will expand its program to boost the auto industry after funds ran out faster than expected, the finance ministry confirmed on Wednesday.

The program, launched earlier this month, provided 1.5 billion reais ($310.09 million) in tax credits to automakers who then lowered auto prices. Vel Blogger

Brazil government to expand program to lower auto prices

The finance ministry did not detail the scope of the expansion. The plan was reported earlier by local newspaper O Globo.

($1 = 4,8373 reais) (Reporting by Isabel Versiani)

Brazil government to expand program to lower auto prices

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