Forecast: Passenger Cars in Use in Brazil

Analysis reveals a consistent rise in passenger cars usage in Brazil from 2013 to 2019, with year-on-year growth peaking at 6.33% in 2013 and steadily declining to 2.55% in 2019. The market experienced a sharp decline of 14.98% in 2020, likely due to the COVID-19 pandemic. However, recovery was strong with a 17.13% growth in 2021. From 2022 to 2023, growth moderated to 7.61% and 2.14% respectively. The CAGR over the past five years stands at 2.34%, reflecting overall moderate growth.

Passenger cars in use stood at 43.25 million units in 2023, and projections suggest continued growth to 47.86 million units by 2028 with a forecasted 5-year CAGR of 1.65% and an 8.54% total increase.

Future trends to watch for include:

• Potential impact of economic fluctuations on car sales and usage.
• Adoption rates of electric vehicles and their influence on the overall car market.
• Government policies and incentives aimed at promoting environmentally friendly transportation.