Brazil’s electric vehicle market saw significant growth in 2024, with sales surging 89% year-over-year to 177,538 units. This spike in demand drove EV imports to a record-high $1.6 billion, a 107.7% increase from the previous year, according to data from the Ministry of Development, Industry, Trade, and Services. Foreign trade expert Rogério Marin expects the …
The 28.5% increase in Chinese auto parts purchases was crucial to the 11.5% rise in total automotive component imports in 2024, which reached a record $20.9 billion, up from $19.77 billion in 2023. On the other hand, auto parts exports fell by 12.9%, dropping from $9.1 billion to $7.9 billion in the same period. Here …