Brazil’s Automotive Sector Booms in February with Rising Production and Sales

Brazil saw a notable 23.8% increase in auto production and an 8% rise in auto sales in February. Meanwhile, Renault reported significant vehicle sales in 2024 and maintains a strong global presence with diverse service offerings.

In February, Brazil experienced a significant increase in auto production, which rose by 23.8% from the previous month, reaching a total of 217,631 units. This information was made available by the automakers association, Anfavea, on March 14. Furthermore, auto sales in the country saw an uptick of 8%, totaling 184,960 units for the same month.

Renault, a prominent player in the global automotive industry, reported substantial net sales comprising mainly vehicle sales. In 2024, they sold 2,264,815 vehicles, segmented into various brands: Renault (1,577,351), Dacia (676,340), Renault Korea Motors (6,539), and Alpine (4,855). The company stated that vehicle sales accounted for 89.9% of its net sales, while services related to financing and maintenance contributed 10.2%.

By the end of 2024, Renault operated 34 industrial sites worldwide, with its net sales geographically distributed as follows: France (29.9%), Europe (49.8%), Americas (8.3%), Eurasia (5.1%), Asia/Pacific (3.9%), and Africa and the Middle East (3%).

Furthermore, the stock information indicates Renault’s last closing price was €47.85, while the average target price is €59.22, indicating a potential upside of 23.75%. This consensus reflects positive prospects for the company moving forward.

In summary, Brazil’s automotive sector reported an impressive production increase of 23.8% and an 8% rise in sales in February. Additionally, Renault showcased strong performance with substantial vehicle sales and a diverse geographical presence, suggesting positive growth in both the Brazilian market and the global automotive industry.

Original Source: www.marketscreener.com