Key Market Indicators
Brazil's vehicle registration is projected to soar to approximately 7 million units by 2028, marking a significant increase from around 4.8 million units in 2023. This growth reflects an annual compound growth rate (CAGR) of 6.1%. Notably, since 2010, the Brazilian market has witnessed a robust annual growth rate of 13.2%. In the global ranking for 2023, Brazil held the 13th position, with Japan surpassing it with nearly 4.8 million units. Canada, China, and Austria secured the second, third, and fourth spots, respectively. Meanwhile, Brazil's vehicle production is expected to climb to roughly 3.5 million units by 2028, up from about 3.1 million units in 2023. This represents an average annual growth rate of 1.8%. Since 2002, the country's supply has seen a steady annual increase of 1.5%. In the 2023 global production ranking, Brazil was positioned at number eight, with Mexico surpassing it with a similar production figure of approximately 3.1 million units. The United States, Japan, and Germany occupied the second, third, and fourth ranks, respectively.
