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Brazil Becomes World’s Largest Importer of Chinese Cars
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Mumbrella Asia
Brazil has become the world’s largest importer of Chinese cars, with purchases reaching US$5.2 billion between January and May, a 146.9 percent increase from the same period last year, according to a report published Tuesday by Brazilian newspaper Valor Econômico.
Data from Chinese customs cited by the newspaper showed that Brazil overtook Russia, which imported US$5 billion worth of Chinese vehicles during the period, and Belgium, with US$3.8 billion.
Brazil ranked sixth among importers of Chinese vehicles during the same period last year, when purchases totaled US$2.1 billion.
Electrified Vehicles Drive GrowthThe surge in imports has been largely driven by electrified vehicles, including fully electric and hybrid models.
Chinese Automakers Expand Local PresenceThe rapid increase in imports is also taking place alongside a broader expansion of Chinese automakers in Brazil.