Latin American car ownership rising steadily

Subsidies and economic growth mean fuel consumption and car ownership will rise steadily

In Brazil's financial capital Sao Paolo the roads have become so clogged with cars that those who can afford it now take to the sky. Executives and officials ride helicopters from rooftop to rooftop for meetings and lunches to avoid the crippling gridlock below. Sao Paolo's problem is extreme, but traffic-choked highways are a familiar sight in cities across Latin America. As strong economic growth over the past decade has improved the fortunes for many in the region, demand for cars, trucks and buses -“ and the fuel to keep them moving - has soared. The trend is likely to continue. Across Latin America, vehicle ownership rose by more than 40% from 2000 to 2010, from 107 to 150.4 vehicles pe