GM Predicts 68% Rise in Brazil Sales on Luxury Demand

General Motors Co. expects sales in Brazil to grow by 68 percent to 1 million vehicles by 2014 as growth in Latin America’s largest economy stokes demand for fancier cars, said the automaker’s South America chief.

“Brazilians are getting richer and the currency is stronger,” Jaime Ardila, head of GM South America, said in an interview. The country will make a “significant contribution to the company’s profits” in the next few years, he said.