Brazilian Vehicles Market in 2023 reported a total of 2.18 million sales, posting an 11.3% increase from the prior year. This overall uptrend was confirmed by a positive streak in the last 7 months.
Market Trend and Outlook
Brazil’s economy has been surprisingly resilient this year. Deloitte states: “Inflation-adjusted wages continue to grow at a relatively rapid clip as consumer price growth slowed. More recently, the labor market has tightened, and consumer confidence has soared. As a result, consumer spending is growing at a respectable rate. Pushing inflation lower will be more challenging from here. A lack of improvement on the inflation front will likely restrain consumer spending as real wage growth and interest-rate cuts slow.”
This growth in consumer spending has pushed the Brazilian Vehicles Market higher and higher, which closed the year at 2.18 million sales, up 11.3% from the previous one. The month of December grew for the 7th month in a row with new registrations reaching 236,432 (+15.2%).
Looking at cumulative data from 2023 brand-wise, Fiat reported the most sales at 475,547 (+10.6%), followed by Volkswagen -up 1 spot- at 345,014 (+28.3%) and Chevrolet -down 1 spot- with 328,047 sales (+12.7%).
In 4th ranks Toyota with 192,287 sales (+0.6%), followed by Hyundai at 186,245 (-0.7%), Jeep with 126,986 (-7.5%), Renault with 126,269 (+0.2%), Nissan -up 1 spot- with 72,553 sales (+35.4%) and Honda -down 1 spot- with 72,050 (+27.3%).
Peugeot ranked in 10th spot, reporting 34,916 new vehicle registrations (-16.3%).
Looking at specific models the Fiat Strada maintained leadership as the best selling car, despite growing just 7.3% in year-on-year volume. The Volkswagen Polo followed in second, up 49 spots in the rankings (+1259.7%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturer Groups, and top 10 Models.
