Description

The Brazilian automotive industry is the sixth largest globally and growth is expected to be consistent driven by domestic demand. Competition in the automotive industry is high and increasing with leading car manufacturers announcing expansion plans with high priority is given for the development of flex fuel vehicles. Strong real affected the domestic parts suppliers with increased competition from cheaper imports, Government has phased out import tax to protect the parts manufacturers. Overall automotive industry is poised for growth during the forecast period with increasing opportunities in both passenger cars and commercial vehicles segments.