Vehicle Imports Grow 141%, Driven by Electric and Hybrid Models

Vehicle imports in Brazil recorded an impressive 141% growth in 2024 compared to the previous year, according to data released by the Brazilian Association of Importing and Manufacturing Companies of Motor Vehicles (Abeifa) on Tuesday (January 21).

With 104,729 vehicles imported, Brazil achieved its best result in a decade, surpassing the 93,685 cars imported in 2014. The highlight was electric and hybrid models, which accounted for 90.6% of the total imports, with 94,930 units.

Among the 178,430 electrified vehicles registered in Brazil in 2024, 53.2% were imports, reflecting the strong growth of electrification in the national automotive market. However, imported vehicles still represent only 4.2% of total car sales in the country.

BYD Leads the Imported Vehicle Market

Chinese automaker BYD strengthened its leadership in Brazil’s electric and hybrid vehicle segment, selling nearly three times more than the combined sales of its ten largest competitors. In 2024, BYD sold 76,810 vehicles, compared to 8,632 units by Volvo, which ranked second. Other brands in the top rankings include Porsche, Kia, Land Rover, JAC, Suzuki, Jaguar, McLaren, and Aston Martin.

Import Taxes on Electrified Vehicles

The federal government has been gradually increasing import taxes on electric and hybrid vehicles to encourage local production and attract investments in the sector. The tax rates are set to rise through 2026:

Hybrid Cars:

15% (January 2024) → 25% (July 2024) → 30% (July 2025) → 35% (July 2026).

Plug-in Hybrids:

12% (January 2024) → 20% (July 2024) → 28% (July 2025) → 35% (July 2026).

Electric Vehicles:

10% (January 2024) → 18% (July 2024) → 25% (July 2025) → 35% (July 2026).

This policy aims to balance imports and local production, fostering the expansion of Brazil’s electrified vehicle market with greater competitiveness and innovation.

Source: Metrópoles

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