Brazil’s Automotive Sector Sees Significant Growth in February

Brazil’s auto production surged by 23.8% in February, reaching 217,631 units, while sales increased by 8% to total 184,960 units. Renault reported that 89.9% of its net sales in 2024 came from vehicle sales, with a strong global presence and an optimistic market outlook.

Brazil experienced a notable increase in automobile production in February, with a reported rise of 23.8% from the previous month, totaling 217,631 units. This significant growth is detailed in data released by Anfavea, the automakers association. Auto sales also saw an uptick, increasing by 8% to reach 184,960 units during the same month, highlighting a positive trend in Brazil’s automotive market.

In a related context, Renault, one of the foremost automobile manufacturers, reported substantial net sales activities in 2024. Of these sales, 89.9% stemmed from the sale of vehicles, accounting for 2,264,815 units, while services contributed 10.2% through financing, maintenance, and mobility services. Renault’s operational reach is evident, with 34 industrial sites globally.

The group’s net sales are further broken down geographically: 29.9% from France, 49.8% from Europe, 8.3% from the Americas, 5.1% from Eurasia, 3.9% from the Asia/Pacific region, and 3% from Africa and the Middle East. The latest financial assessments show Renault’s last closing price at 47.85 EUR, with an average target price projection of 59.22 EUR, reflecting a positive consensus in the market.

In summary, the Brazilian automotive sector has demonstrated strong growth in both production and sales during February. Concurrently, Renault showcases robust global performance in vehicle sales and related services, with considerable net sales and geographical distribution. These developments indicate a thriving automotive market in Brazil, alongside Renault’s enduring influence in the international automotive landscape.

Original Source: www.marketscreener.com