New and Used Cars in Brazil

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New and used car market in Brazil

There were 2,239,683 new cars and 10,321,630 used cars sold in Brazil in 2017. With these figures I was able to determine that the total new and used car market in Brazil is $172,608.328.889.57. Below you will find a detailed analysis of my findings with calculations. I've also added the information to the corresponding row on the spreadsheet.

NEW CARS

In order to determine the market size for both used and new cars in Brazil, I used the sales prices from the Chevrolet Onix because it was the top selling car in Brazil, followed by the Ford Ka, the Hyundai HB2, the Volkswagen Gol, and the Chevrolet Prisma.

Using Kelley Blue Book Brazil, I was able to determine the average market value of a new Chevrolet Onix is R$ 62,966 or $19,530.79.

Note that 1 Brazilian Real (R$) = .31 USD and a currency converter was used in order to convert the prices to USD.

In 2017, Brazil saw a new vehicle sales increase of 4.1% with 2,239,683 units sold.

USED CARS

The price of a used Chevrolet Onix ranges from R$ 25,500 to R$ 55,000 averaging R$ 40,250 or $12,485.

In 2016, there were 10.3 million used vehicles sold in Brazil. This was stable with only a minor increase of .21% from 2015. Assuming 2017 saw a similar increase, we can assume that 10.3 million cars were sold with only a minor increase of 21,630 units (10.3 million units * .0021 = 21,630 units). If we add that to the 10.3 million we get 10,321,630 units sold in 2017.

CALCULATIONS

Averge New Car Price * total units sold = New Car Market
$19,530.79 * 2,239,683 units = $43,742,778,339.57

Average Used Car Price * total units sold = Used Car Market
$12,485 * 10,321,630 units = $128,865,550,550

New Car Market + Used Car Market = New & Used Market Size
$43,742,778,339.57 + $128,865,550,550 = $172,608.328.889.57
Sources
Sources