Forecast: Vehicles in Use in Brazil

The number of vehicles in use in Brazil showed a steady increase from 2013 to 2019, with variations mostly greater than 2%. However, 2020 marked a significant downturn with a year-on-year decrease of almost 15%. Recovery was evident in 2021, with a rise of approximately 17%, and growth continued at varied rates, stabilizing at around 2% in 2023 with 52.1 million units. The five-year Compound Annual Growth Rate (CAGR) up until 2023 was modest at around 2.34%.

Future trends to watch for:

• Continued moderate growth is expected until 2028, with a forecasted five-year CAGR of 1.65%.
• Sustainability trends may impact vehicle types and usage patterns.
• Technological advancements in electric vehicles (EVs) might alter future growth dynamics.
• Regulations around emissions and fuel efficiency could further influence market developments.