Brazil Overtakes Germany as World’s Fourth Largest Auto Market

Brazil Overtakes Germany as World’s Fourth Largest Auto Market

Move over Germany, Brazil has taken your spot. No we are not talking about World Cup Soccer, but instead about car sales.

According to Anfavea, Brazil’s national automobile manufacturers association, a total of 3.45-million vehicles will be sold by the end of 2010, which gives Brazil the number four spot for vehicle sales, behind China, U.S.A. and Japan. Germany now places fifth.

This will certainly get the attention of more car companies to get their feet into the Brazilian market.

Anfavea president Cledorvino Belini, who is also the head of Fiat in Brazil said, “with a population of 192 million, had approximately one vehicle per seven residents, leaving plenty of room for growth.”

Currently there are about 30-million vehicles in Brazil, and as the economy improves, that number can balloon very quickly.

Brazil is currently the sixth largest car producing nation in the world, making 3.64-million units under 17 different brands. With Hyundai and Chery looking to open new factories, that number can climb higher still.

Nearly 80% of the cars produced in Brazil are exported, mostly to Argentina and other South American markets.

With their currency ‘the real’ continuing to grow and the number of luxury imports also rising, Brazil is a market worth keeping an eye on.