April 27, 2017 / 3:58 PM / 3 years ago

Localiza sees more demand stimulus as Brazil interest rates drop

SAO PAULO, April 27 (Reuters) - Brazil’s Localiza Rent a Car SA plans to keep stimulating rental car demand this year due to falling interest rates, executives told analysts on a Thursday earnings call.

The company also expects to significantly expand its network of used car dealerships in 2017 due to its growing fleet size, executives said. Localiza reported on Wednesday a 17 percent rise in quarterly profit as lower borrowing costs helped its aggressive expansion strategy. (Reporting by Brad Haynes and Alberto Alerigi Jr.; Editing by Chizu Nomiyama)

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