Brazil Used Car Market Size

Statistics for the 2023 & 2024 Brazil Used Car market size, created by Mordor Intelligence™ Industry Reports. Brazil Used Car size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Brazil Used Car Industry

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Brazil Used Car Market Summary
Study Period 2024 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 151.72 Billion
Market Size (2029) USD 197.75 Billion
CAGR (2024 - 2029) > 4.00 %
Market Concentration Medium

Major Players

Brazil Used Car Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Brazil Used Car Market Analysis

The Brazil Used Car Market size is estimated at USD 151.72 billion in 2024, and is expected to reach USD 197.75 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

The pre-owned car market in Brazil has continued to grow despite slowing economic activity and externalities that have shaken the auto industry. The automotive sector in Brazil accounts for about 20% of the domestic industrial production, and the current numbers of production and sales put the eighth-largest producer and the seventh in terms of consumption market in the world. According to the Statista, 8.67 million used cars were sold in the country in 2022.

The overall car ownership in Brazil is at 250 for every 1,000 inhabitants. Brazil's used car to new car ratio lies on the cusp of moving from infancy to the growth stage, thereby signifying the start of a new era for the used car industry. However, the gap that exists in correlation to some developed and developing nations is indicative of the high growth potential of both the used car and new car sectors in Brazil.

Moreover, the substantial growth in the upcoming five years can be attributed to the burgeoning middle class and the youthful demographic in Brazil. This expansion is further propelled by the consistent rise in disposable income within the country.

Factors like transparent technology integration, enhanced convenience, streamlined transactions, and other related aspects also drive the projected surge. The used cars market in Brazil is transforming an informal structure characterized by transactions through local mechanics, individual brokers, and private sellers to a more organized and structured system, with an influx of new market entrants.

Brazil Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)