Brazil’s Automotive Sector Sees Growth in Production and Sales in February

Brazil’s auto production increased by 23.8% in February, totaling 217,631 units, while sales rose by 8% to 184,960 units. Renault reported 2,264,815 vehicle sales in 2024, with services making up 10.2% of net sales and a significant global production footprint.

In February, Brazil experienced a notable increase in automotive production, which rose by 23.8% from January, amounting to a total of 217,631 vehicles, according to data from the National Association of Auto Manufacturers (Anfavea). Additionally, auto sales in Brazil, the largest economy in Latin America, increased by 8% during the same period, with a total of 184,960 units sold. This uptick in production and sales underscores a positive trend in the Brazilian automotive market.

Renault, a major global player in the automobile industry, reported significant sales figures for 2024, with total vehicle sales reaching 2,264,815 units. This figure includes 1,577,351 vehicles under the Renault brand, along with sales from Dacia, Renault Korea Motors, and Alpine. The company’s revenue streams are diversified, with 89.9% derived from vehicle sales and 10.2% from various services such as financing and maintenance.

As of the end of 2024, Renault operated 34 industrial sites globally. Geographic distribution of their net sales indicates that 29.9% originated from France, 49.8% from Europe, 8.3% from the Americas, and the remainder from regions including Eurasia, Asia/Pacific, and Africa and the Middle East. This broad market representation showcases Renault’s growth strategy and manufacturing capabilities.

In summary, Brazil’s automotive sector demonstrated robust growth in February, highlighted by a substantial rise in both production and sales figures. Concurrently, Renault’s strong performance in vehicle sales and service offerings reflects its strategic positioning within the global market, supported by a diverse geographical presence and extensive industrial operations.

Original Source: www.marketscreener.com