Key Market Indicators
Brazil’s commercial vehicle registration is projected to reach approximately 816,000 units by 2028, up from around 589,000 units in 2023. This marks an average annual growth rate of 5.1%. The Brazilian market has consistently expanded at an annual rate of 4.9% since 2010. In 2023, Brazil ranked 11th globally, with India surpassing it with the same number of units. Canada, Mexico, and Argentina secured the 2nd, 3rd, and 4th places, respectively. Meanwhile, Brazil's commercial vehicle production is expected to hit roughly 409,000 units by 2028, increasing from about 361,000 units in 2023 at an annual growth rate of 2%. Since 2002, the country’s supply has seen a modest annual rise of 0.1%. In 2023, Brazil was ranked 10th in this category, with France ahead at the same number of units. Mexico, China, and Canada occupied the 2nd, 3rd, and 4th positions, respectively.
