Brazil Set To Become World's Third Largest Car Market By 2015
A report by Roland Berger Strategy Consultants claims that by 2015, Brazil will be the world’s third largest auto market, with China and the United States occupying the first and second slots respectively.
Brazil will displace Japan as the third largest market, as sales are expected to double to 6.6 million vehicles by 2020. The report also claims that Chinese and Indian auto makers will export vehicles to Brazil en masse and could grab 10 percent of the market by 2020. Volkswagen, Ford and Fiat have long enjoyed market dominance in Brazil, but a flood of cheap cars from China and India could radically alter the balance of market share in an economy where merely having a car is seen as a major step-up from two-wheeled transportation.
[Source: The Truth About Cars]
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