The Brazilian automobile market grew by 15.7% in the first half of 2024
- The Brazilian automobile market for passenger cars increased by 15.7% in the first half of 2024 compared to the first half of 2023, to 848,845 units compared to 733,715 (for the record: first half of 2023/first half of 2022 = +7.4% ).
- The election of President Lula at the end of 2022 and the establishment of his economic program is probably not the cause of this strong market growth, growth having started in 2021 but at a lower level. We thus went from 1.56 million passenger car sales in 2021 to 1.58 million units in 2022, 1.72 million units in 2023 and over six months of 2024 we are at an annual rate of 1 .99 million units. Growth is accelerating.
- This figure is, however, more than twice lower than that of India for example (in absolute value), which places Brazil in sixth position globally, behind China, the United States, Europe, India and Japan.
- By manufacturer, the Stellantis group remains largely the leader in the Brazilian market (24.5% market share) thanks mainly to the Fiat brand which has been omnipresent in this market since the 1960s, arriving in the wake of the Volkswagen brand established here in the 1960s. 50. The Fiat brand represents two-thirds of the Stellantis group's sales in Brazil in 2024.
- The Stellantis group sees its sales stagnate between 2023 and 2024, while the Volkswagen group (17.5% of market share) sees its sales increase by 20% thanks to the success of recently launched models. The GM group (13.5% market share) clearly stands out from Volkswagen and is getting dangerously close to the Hyundai-Kia group (10.5% market share), which is progressing. Chinese manufacturers now occupy 9% of the Brazilian market, growing constantly.