New cars sales in Brazil continue to improve on a monthly basis
The new car registrations in Brazil recorded the fifth increase in a row in September, growing by 13.4% m/m to 161,114 units. Despite improving on a monthly basis, the car retail sales in Brazil stay below the levels observed before the COVID-19 pandemic. Compared to September 2019, the new car registrations dropped by 14.2% y/y in September 2020.
Nevertheless, the sales of light commercial vehicles - which include pickup trucks and vans – experienced robust recovery, rising by 5.1% y/y to 38,051 units in September 2020, the highest value in 5 years.
Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.