Market Share of Latin America Passenger Car Industry
Some of the major manufacturers in the market include Nissan-Renault, General Motors, Volkswagen AG, FCA Group, Hyundai-Kia, Toyota Motor Corporation, and Ford. Further ongoing plant expansion, mergers, and acquisitions between the vehicle manufacturer are witnessing major market growth.
For instance, in November 2022, BYD signed a letter of intent with the State of Bahia to take over Ford's Camaçari plant facility in order to establish three new assembly lines. The government claims that BYD would invest BRL 3 billion to produce fully electric buses, trucks, and passenger cars in addition to electric and hybrid vehicles and a unit for processing lithium and iron phosphate. Additionally, in July 2022, Hyundai announced a BRL 200 million investment in the Piracicaba plant in Brazil to renew its HB20 compact range, just as the hatchback is becoming the country's best-selling passenger car.
Latin America Passenger Car Market Leaders
Renault-Nissan
General Motors Company
Volkswagen AG
FCA Group
Hyundai Motor Company
*Disclaimer: Major Players sorted in no particular order
