Brazil Commercial Vehicle Market Forecast 2023 is our exclusive report. Brazil’s economy is facing a tough time. The country’s GDP is continuously falling from the last couple of years. The political crisis is also one of the reasons for this recession.
In 2012 the country registered 3.80 million new vehicles and in 2016 it registered only 2.05 million, which is a notable gap. In 2015, Commercial Vehicle sales registered 49 percent degrowth compared to 2014 and in 2016 it registered 34 percent growth compared to 2015. In 2017 also the market would have a similar trend. We are expecting that the market will start to show a 1 percent growth from 2018.
Currently, OEMs are using less than 50 percent of their production capacity and in the case of Heavy Commercial Vehicle, it is around 75 percent. Vehicle export to neighboring countries like Argentina, Colombia, Mexico, Peru, and Uruguay could give a boost to production and also utilize maximum plant capacity. Argentina, the European Union, the USA, and Mexico are major export countries.
The construction and agricultural Industry also started to show some positive sentiments. Fleet owners started to renew their fleet which will have a positive impact in 2018.
Economic regulations and financing a new vehicle are a few of the challenges for the market.
Brazil is one of the top markets globally for commercial vehicle and it is the single largest market in Latin America. ACG is having exclusive Model-level Truck and Bus production data with its trend and forecast for 2023.
Our exclusive vehicle production data is helpful for Business Planning, Strategy making, Competitive Analysis, Auto Components production planning and forecast for OEMs.
