Of all the blogs I have written about the BRIC nations, I realised I have never written about the opportunity in the Brazilian automotive market.
I must have been blinded by the crazy growth numbers of China and future market potenial of India.
Brazil has been a consistent Top 10 market for more than a decade and will continue to be through 2020, according to Polk’s global automotive forecast.
Brazil’s automotive market accounted for 2.68 million vehicles in 2010 and is expected to grow by 48% through 2020.
VW and Fiat are the top OEMs in Brazil and although they will exhange the top spot over the next 10 years, they will continue to be closely trailed by Chevrolet.
OEMs experiencing some of the largest growth rates through 2020 include Hyundai (with 348% growth) and Toyota (with 116% growth).
Although Brazil has the slowest automotive growth of all the BRIC nations throughout the next 10 years, it has great potential for continued growth due to strong increases in GDP and income per capita forecasted over the next 10 years.
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