New Vehicle Sales in Brazil Fall Over 26% in 2020
RIO DE JANEIRO, BRAZIL – New vehicle sales in Brazil fell 26.16 percent in 2020 compared to 2019, the worst annual record since 2016, largely due to the impact of the novel coronavirus pandemic, the National Federation of Automotive Vehicle Distribution (Fenabrave) said on Tuesday, January 5th.
The dealers association reported that 2,058,315 new cars, light commercial vehicles, trucks and buses were sold in 2020, compared to 2,787,618 in 2019.
The outlook for 2021 is more positive, with a forecast of 16 percent growth in new vehicle sales in Brazil, the largest Latin American economy, said Fenabrave President Alarico Assumpcao Junior in a video press conference.
He noted that along with the pandemic, a lack of auto parts and supplies beginning in the second half of the year also contributed to the decline.
“Passenger and freight companies suffered the most from the drop in sales,” said Assumpcao.
Bus sales were the most affected, collapsing 33 percent in 2020 compared to 2019.
Automobile sales fell 28.57 percent, while truck sales dropped 12.31 percent from the previous year.
Assumpcao pointed to signs of recovery in the latter part of 2020 due to incentives to boost public consumption amid the pandemic.
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