New vehicle sales in Brazil up 9.7 pct in 2023

Sales of new vehicles in Brazil grew 9.7 percent in 2023 compared to 2022, the best performance in the past four years, the National Federation of Motor Vehicle Dealers (Fenabrave) said Thursday, Xinhua reports. 

According to the association of dealerships in Brazil, 2,308,140 units were sold last year, compared to 2,104,050 in 2022, meaning sales bounced back to 2019 pre-pandemic levels.

In the new automobile segment, sales growth in 2023 reached 9.13 percent, with 1,720,841 units sold versus 1,576,902 in 2022.

In December, 164,145 new cars were sold, 14.38 percent more year on year, according to the numbers released by Fenabrave in Sao Paulo state.

The association expects sales of new vehicles to see a 12 percent increase in 2024.