Brazil: Passenger Car Market 2024

Passenger Car Market Size in Brazil

The Brazilian passenger car market rose modestly to $X in 2021, surging by 2.9% against the previous year. Overall, consumption, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 9.6%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Production in Brazil

In value terms, passenger car production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 2.6%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Passenger Car Exports

Exports from Brazil

After three years of decline, shipments abroad of passenger cars increased by 12% to X units in 2021. Over the period under review, exports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 46%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, passenger car exports surged to $X in 2021. In general, exports, however, continue to indicate a mild slump. The growth pace was the most rapid in 2013 with an increase of 47%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X units) was the main destination for passenger car exports from Brazil, accounting for a 37% share of total exports. Moreover, passenger car exports to Argentina exceeded the volume sent to the second major destination, Colombia (X units), twofold. The third position in this ranking was held by Mexico (X units), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina stood at -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+20.6% per year) and Mexico (+2.7% per year).

In value terms, Argentina ($X) remains the key foreign market for passenger cars exports from Brazil, comprising 39% of total exports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total exports. It was followed by Mexico, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Argentina stood at -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+21.2% per year) and Mexico (+3.9% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, rising by 8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Argentina ($X per unit) and Paraguay ($X per unit), while the average price for exports to Uruguay ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Brazil

After two years of decline, purchases abroad of passenger cars increased by 65% to X units in 2021. In general, imports, however, continue to indicate a abrupt slump. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Argentina (X units) constituted the largest passenger car supplier to Brazil, accounting for a 53% share of total imports. Moreover, passenger car imports from Argentina exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. China (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina totaled -12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-19.1% per year) and China (+0.1% per year).

In value terms, Argentina ($X) constituted the largest supplier of passenger cars to Brazil, comprising 50% of total imports. The second position in the ranking was taken by Mexico ($X), with a 14% share of total imports. It was followed by Germany, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina totaled -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-18.4% per year) and Germany (-8.8% per year).

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, approximately reflecting the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 9.8%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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