Growth in Brazil's car market will slow to ten per cent this year from 30 per cent in 2007, Renault's top manager for the country has warned.
Jerome Stoll said last year's growth had been spurred in part by favourable economic conditions in Brazil, including a good trade balance, lower interest rates and more consumer loans.
He also said that the car market in Argentina, which has been gaining strongly, may also be less stable this year.
The Americas region is a strong one for the French company and has seen sustained growth in recent years.
In the region as a whole, sales expanded 33.4 per cent last year with 247,403 vehicles sold, mainly under the Renault brand.
The group achieved significant growth in Venezuela, at 133 per cent, followed by 42.9 per cent in Brazil, 39 per cent in Argentina and 17.8 per cent in Colombia.
Sales in Argentina rose to 66,994, giving the company a 12.5 per cent market share, while in Brazil it set a new sales record with 73,875 vehicles notched up.
Colombian sales topped 39,000, largely due to the launch of the mid-market Logan brand, while in Venezuela sales reached 29,000.
Manufactured at the Curitiba plant in Brazil since April last year, Logan goes under the Renault name in Argentina and Brazil, where it has sold more than 16,500 units in six months.
Renault has extended its Latin American offering with the Sandero, a five-door hatch-back developed on the Logan platform. It was launched in Brazil in December and will be on sale in Argentina from February. The firm is hopes the range will lead to further growth.