RIO DE JANEIRO, BRAZIL – On Tuesday, February 8, Toyota announced the goal of increasing sales by 20% in Brazil this year. The percentage is well above the sector’s forecasts for the entire industry; the National Association of Motor Vehicle Manufacturers (Anfavea) forecasts an 8.5% market expansion in 2022.
If the target is reached, the Japanese carmaker will have a chance to expand its market share in Brazil. Last year, the company was in fifth place with an 8.76% share in the sales of cars and light commercials, according to data from the National Federation of Vehicle Distribution (Fenabrave), based on official licensing data.
Last year, with the launching of new products, Toyota managed to advance. It sold 175,000 vehicles, a 26% increase compared to 2020. In the same year, the Brazilian vehicle market grew by 3%.
One of the great challenges in 2021 was to manage the global effects of the lack of components. Even so, Toyota ended the year with almost 172,000 units in its two car factories, in Sorocaba and Indaiatuba (São Paulo State).
It represented a growth of 48% compared to 2020. On the same basis of comparison, Brazil’s total production of vehicles increased by 11.6%.
In his statement, Chang again highlighted the need for Brazil to be a more competitive country, a theme he has been addressing for some time.
With production concentrated in the state of São Paulo, Toyota has positioned itself against the continuity of tax incentives for automakers installed in the Northeast and Midwest, as is the case of Stellantis and the Caoa and Mitsubishi groups.
For the time being, Toyota is the only automaker that produces hybrid models in Brazil. It was also the first to launch hybrids that can be fueled with ethanol.
With almost 20,000 vehicles sold (56.5% market share in the hybrid and electric market), the automaker was the leader in this segment in 2021.