Sports Cars - Brazil

Brazil

Highlights

Revenue in the Sports Cars market is projected to reach US$2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.29%, resulting in a projected market volume of US$2bn by 2029.
Sports Cars market unit sales are expected to reach 45.1k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$47k.
From an international perspective it is shown that the most revenue will be generated United States (US$20bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sports Cars market in Brazil has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: In Brazil, there is a strong demand for sports cars among car enthusiasts and high-income individuals. These customers value performance, style, and prestige, which are all characteristics that sports cars offer. The thrill of driving a powerful and fast vehicle is highly appealing to this segment of the population. Additionally, sports cars are seen as a status symbol and a way to display wealth and success.

Trends in the market: One of the key trends in the sports cars market in Brazil is the increasing popularity of electric and hybrid sports cars. As environmental consciousness grows globally, Brazilian consumers are also becoming more interested in sustainable transportation options. Electric and hybrid sports cars offer the best of both worlds, combining the performance and style of traditional sports cars with the environmental benefits of electric power. This trend is expected to continue as technology advances and more electric and hybrid sports car models become available in the market. Another trend in the market is the growing customization options for sports cars. Brazilian consumers are increasingly looking for unique and personalized vehicles that reflect their individual tastes and preferences. Car manufacturers and aftermarket companies are responding to this demand by offering a wide range of customization options, from exterior paint colors to interior finishes and performance upgrades. This trend not only allows customers to have a one-of-a-kind sports car but also provides additional revenue streams for manufacturers and retailers.

Local special circumstances: Brazil has a strong automotive industry, with several domestic car manufacturers producing sports cars locally. This not only supports the local economy but also provides consumers with a wide range of options to choose from. The presence of local manufacturers also helps to keep prices competitive, making sports cars more accessible to a broader range of customers.

Underlying macroeconomic factors: The growth of the sports cars market in Brazil is also influenced by underlying macroeconomic factors. As the economy continues to recover from the recent recession, consumer confidence and purchasing power are increasing. This translates into higher demand for luxury goods, including sports cars. Additionally, low interest rates and favorable financing options make it easier for consumers to purchase sports cars, further driving market growth. In conclusion, the Sports Cars market in Brazil is experiencing growth due to changing customer preferences, such as the demand for electric and hybrid sports cars and customization options. Favorable local special circumstances, including a strong automotive industry and competitive prices, contribute to this growth. Additionally, underlying macroeconomic factors, such as an improving economy and favorable financing options, further support the expansion of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).