Brazilian Vehicles Market posted its fourth consecutive year of growth in 2024, climbing 13.9% year-on-year. Fiat and Volkswagen held their top rankings, but the real momentum came from Honda, Nissan, and BYD in the lower Top 10.
Market Trend and Outlook
The Brazilian Vehicles Market has benefited from increased consumer spending, reaching 2,482 million full-year sales in 2024. Marking its fourth consecutive year of growth, the market expanded by 13.9% year-over-year compared to 2023, maintaining positive momentum throughout most of the year.
Looking at cumulative data from December 2024 brand-wise, Fiat reported the most sales at 521,199 (+9.6%), followed by Volkswagen at 401,285 (+16.3%) and Chevrolet with 314,782 sales (-4%).
In 4th ranked, Hyundai -up 1 spot- with 205,719 sales (+10.5%), followed by Toyota -down 1 spot- at 203,722 (+5.9%), Renault -up 1 spot- with 139,119 (+10.2%), Jeep -down 1 spot- with 121,246 (-4.5%), Honda -up 1 spot- with 91,370 sales (+26.8%) and Nissan -down 1 spot- with 87,431 (+20.5%).
BYD grew 5 spots and ranked in 10th, reporting 76,430 new vehicle registrations (+325.9%).
Looking at the best-selling models, reported in the dedicated post, the Fiat Strada was still the best seller growing 20% in sales, followed closely by the Volkswagen Polo, up 26%.
Medium-Term Market Trend
The Brazilian vehicles market has had a few ups and downs in the past decade, with 2012 registering the highest levels for the following years. Previously, starting in 2010, the market rose for two consecutive years reaching 3.6 million sales in 2012. In 2013 the Brazilian market began a 4 year negative trend falling a maximum of 25.6% in 2015 and reaching 2 million sales in 2016. Luckily from 2017 to 2019 sales grew, reaching 2.7 million sales.
In 2020 The COVID-19 pandemic has caused severe human suffering and triggered a deep recession in Brazil. The demand for consumer’s goods declined and light vehicles sales fell below the 2 million mark, first time in the decade.
Although the economy recovered in 2021 (GDP +5.0%) the basic trend was still weak. In fact, 2022 slowed down 0.9% with inflation rates jumping up and the demand remaining weak.
Projections for 2023 were not looking good due to the continuous price increases in parallel with the adoption of more safety rules and the shift towards electrification. Despite this 2023 reported a total of 2.18 million sales, posting an 11.3% increase from the prior year.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturer Groups, and top 10 Models.