[2024-04-09] Chinese electrics and hybrids boosted Brazilian vehicle imports in Q1

Source: Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

Vehicle imports increased by 46.4% in value compared to the same period last year, driven by Chinese electric and hybrid models, the Foreign Trade Secretariat (Secex) of the Ministry of Development, Industry, Trade and Services (Secex/MDIC) said on April 4.

The preliminary results of the trade balance for March show that in the first three months, the country imported US$1.4 billion worth of cars, compared to US$999 million in 2023.

“Approximately US$ 570 million came from China this quarter, driving the increase. It was a 450% increase in value, compared to the same period last year,” explained the MDIC’s general coordinator for statistics, Saulo Castro, during a press conference.

Also according to Saulo, the two main tariff lines for imports from China are battery electric vehicles and hybrid models, which combine batteries and combustion.