Brazilians have already purchased 2 million light vehicles in 2024

With 249.4 thousand units, October has the best monthly result of the year

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Brazilian light vehicle market
Source: Pixabay

Brazilian light vehicle market

Brazilian light vehicle market achieved its best sales performance in October. Last month, 249.4 thousand units were licensed, a 12% increase over September’s result and 20% above the 206.3 thousand registrations registered in the same month last year.

The daily sales average also confirmed the upward pace of business in recent months. On each of the 23 business days in October, 10,843 units were sold, 2.5% above the September average and 10% higher than the 9,826 vehicles sold in October 2023.

The best month of 2024 so far was July, with 241.3 thousand registrations. In the third quarter alone, 723.1 thousand cars and light commercial vehicles hit the streets — 237.4 thousand in August and 236.3 thousand in September.

With the volume traded last month, Brazilians have already purchased exactly 2 million cars and light commercial vehicles in the past ten months of this year, 13.5% more than from January to October 2023.

Given this result, Bright Consulting reiterates its sales projection for the year of 2.46 million units — slightly above the 2.41 million estimated by Anfavea —, 13% higher than the 2.18 million registered in 2023.

The market leadership for the month remained with Fiat, with 20.8% — 1.5 percentage points less than in September, ahead of Volkswagen (16.9%), the two top-ranked companies also in the year. Also noteworthy is Hyundai, which accounted for 9.3% of the total traded last month.

Direct sales lost strength compared to retail. In the month, they accounted for 47% of licenses, while in October last year they reached 51.5%.

Electrified vehicles recovered slightly from the constant decline of recent months. With 15.7 thousand licenses, the share in the month was 6.3% compared to 5.9% in September. Battery-powered models contributed 44%, plug-in hybrids 33% and closed hybrids 27%.

The BYD Dolphin Mini led among electric vehicles, with 2.8 thousand units sold, and the GWM Haval 6, with 1.6 thousand, was ahead of plug-in hybrids.

The presence of Chinese brands continues to grow: it reached 6.7% of sales in October, compared to 6.3% in September and 4.6% in August.