Automotive Industry in Brazil - Statistics & Facts
Brazil, the “B“ in the BRIC acronym, showed consistent economic growth between 2011 and 2013. Brazil’s gross domestic product per capita exceeded the significant 10,000 U.S. dollar benchmark in 2010, but fell to around 8,700 in 2015. Most parts of Latin America entered have recession, and it is projected that Brazil's per capita gross domestic product will stay below 10,000 U.S. dollars until at least 2019.
In light of Brazil’s increasing affluence, automakers began to focus on this growing market in recent years. In terms of market share, Brazil’s automotive market is dominated by Fiat Chrysler Automobiles, General Motors and Volkswagen. Market protection in the form of tariffs and quotas on imports has prompted companies to open or expand automotive production facilities within Brazil, which helped stimulate the local economy. Some of the most recent protections went into effect in 2012, including putting a quota on imports from Mexico. Brazil produced about 1.78 million passenger cars in 2016, down from a little over 2.7 million units during the prime of passenger car production in Brazil.
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