Noida, India (PressExposure) December 11, 2009 -- RNCOS, a leading market research firm, has recently released a research report âBrazil Automobile Forecast to 2013â that gives a clear picture of the automobile industry and its various segments in Brazil. We have acknowledged the latent potential of the Brazilian automobile industry, which has comfortably outpaced recession and emerged as one of the key contributor to the countryâs GDP growth in past few years.
Our report has found that the automobile industry has highly benefited from fast developing economy, stable government, relaxed credit facilities, and above all, a wide acceptance of flex fuel vehicles in the country. Multiple fuel choice and environment friendly nature of flex fuel vehicles have made them most favorable transportation means in the country. The number of biofuel-powered cars stood at around 0.2 Million in 1980 which experienced an astronomical growth and reached around 2.7 Million units in 2009. This growth trend is expected to continue in coming years and will help in maintaining the overall automobile industry attractiveness.
The Brazilian government is striving hard to lessen its oil dependency and has already taken several measures (such as biofuel blending) in this direction. Since 2008, use of 2% blended biodiesel for meeting transportation needs has been made mandatory and this figure will go up to 5% by the end of 2013, said RNCOS research report. All these governmentâs initiatives exhibit its serious efforts to encourage people for using flex fuel in their vehicles.
However, the automobile industry is currently facing some growth hurdles, which have marginally affected industryâs performance. Appreciation of Brazilian currency against US dollar, low automobile demand from Mercosur countries and credit crunch for OEMâs are some major challenges that have taken toll on industry sales, but they are not long lasting in nature and will lose their base within short time span.
âBrazil Automobile Forecast to 2013â contains comprehensive information and rational analysis of the automobile industry along with overview of past and present market trends. The report gives a deep insight into all important industry segments such as passenger cars, LCVâs, Bus, Trucks, etc, with focus on future market trends and developments taking place in the Brazilian automobile market. A detailed analysis of auto component industry has also been provided to update clients about the changes taken place in recent years.
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