Brazilian passenger car imports rose 46.
4 per cent year-on-year to US $1.
5 billion in the first quarter of this year, while Brazilian passenger car imports surged 450 per cent compared with the same period in 2023, with Chinese cars accounting for about 40 per cent, according to figures released by Brazil’s Ministry of Development, Industry, Trade and and Services on April 4.
Saulo Castro, statistical coordinator of the Ministry, said: “these cars imported from China are mainly electric and hybrid vehicles, which have contributed to the growth of Brazilian car imports.
” Import duties on Brazilian electric cars have fallen to zero since 2015, but Luis Inacio Lula da Silva, Brazil’s president, announced that import duties would be restored this year to encourage the development of the domestic car industry.
Since January this year, the import duty on Brazilian pure electric vehicles has been adjusted to 10%, will rise to 18% in July, and finally reach 35% in July 2026.
Import duties on hybrid cars, which stood at 15 per cent at the beginning of this year, will rise to 25 per cent in July and 35 per cent by July 2026.
Source: BYD, Herlon Brandao, director of statistics of the Ministry, said it was natural for importers to increase their car imports before raising taxes.
He added: “Brazil’s car import tariff will reach 35%, and Brazil is building its own industry, so in this case, Brazil’s car import growth will eventually slow down.
” Marcelo de Godoy, head of Abeifa, an association of Brazilian car importers, points out that demand for electric cars in the general and high-end markets is growing in Brazil, Latin America’s largest economy.
“the entry of Chinese cars into the Brazilian market will help meet this demand,” he told the media.
” According to figures released by the Brazilian Electric vehicle Association (ABVE), electric vehicle sales in Brazil rose 145% in the first quarter from a year earlier to 36090 units.
BYD (14939) is far ahead, followed by Great Wall (5735) and Toyota (5049).
Since last year, Chinese automakers such as BYD and Great Wall have announced investment plans to produce electric vehicles in Brazil.
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