Briefs on International Trade (BIT) 2022/ - Department of Commerce
05th May 2022
Rubber tyre market in Brazil and opportunities for Sri Lanka
Brazil's automotive tire market is driven by increase in automotive production & sales across different vehicle segments and competition growth among tire manufacturers. Recently, the automobile industry has been experiencing a rapid growth owing to speedy industrialization, which has led to an increase in the sale of commercial vehicles such as trucks, tractors, and trailers. In addition, rise in disposable income of people and improvements in standard of living are the factors that increase the sale of luxurious passenger cars and other types of such vehicles. Furthermore, sales of electrical vehicles are expected to increase as the Brazilian government promotes usage of electrical vehicles in the country to reduce usage of fossil fuel. Brazil is the second largest tyre importer in Latin America after Mexico.
Brazil's Total sales of tyres 2015-2020
Total tire sales in 2021 have grown by 9.6% compared to the sales in 2020. However, 2021 was still a year well below the pre-pandemic numbers, as sales averaged 4.5% lower compared to the years 2017, 2018 and 2019, since total tire sales in Brazil closed at 56.7 million units when compared to the average, 59.3 million tyres/units were sold during the period 2017-2019. This decrease can be understood considering the decrease of sales of ride for automakers, which in 2019 was 10.6 million and in 2021, stood at 7.5 million.
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