Brazil Overtakes Germany In Global Auto Sales
Date
11/9/2024 5:00:26 AM
(MENAFN- The Rio Times) The Brazilian automotive industry has made a remarkable comeback. Recent sales figures rival pre-pandemic levels, showcasing the sector's resilience. In October, Brazil emerged as the world's fifth-largest vehicle market, surpassing Germany, a major economic powerhouse.
This achievement marks a significant milestone for Brazil's automotive sector. With 265,000 vehicles registered, including cars, light commercial vehicles, trucks, and buses, the country reached its highest sales mark in a decade. This figure represents the best performance since December 2014.
The surge in sales is particularly noteworthy when compared to recent periods. October saw a 21.6% increase from the same month last year. Compared to September, sales grew by 12%. The first ten months of the year recorded 2.1 million vehicle registrations, a 15% expansion.
Márcio Lima, president of the National Association of Motor Vehicle Manufacturers (Anfavea) , celebrated this accomplishment. He emphasized the significance of surpassing Germany, which registered 232,000 vehicles sold in the same period. This feat not only positions Brazil historically in the global ranking but also reflects the sector's recovery capacity.
The growth extends beyond domestic sales. Exports have also seen an uptick, along with a significant increase in truck and bus sales. These numbers solidify the automotive sector's advancement in the country, demonstrating a market in full recovery mode.
Brazil Overtakes Germany in Global Auto Sales
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