Forecast: Commercial Vehicles in Use in Brazil

The commercial vehicles in use in Brazil have experienced several variations over the years. From 2013 up to 2019, there was a consistent year-on-year growth, peaking in 2019 with 8.08 million units. However, in 2020, there was a significant decline of 14.97%, likely influenced by the global pandemic. The market quickly rebounded in 2021 with a strong 17.13% increase. As of 2023, the number of commercial vehicles in use stood at 8.85 million units, reflecting a modest growth trend of 2.14% over the year.

Key future trends to watch:

• Steady recovery and growth in vehicle use post-2020 pandemic decline.
• Forecasted average annual growth rate (CAGR) of 1.65% over the next five years.
• Increase to 9.8 million units by 2028, indicating an overall growth of 8.55% within the forecast period.