Brazil EV Profile: Potential Remains, But Re-Imposition Of Taxes On EV Imports Poses Headwinds
Autos / Brazil / Wed 24 Apr, 2024
Key View: After expanding by 178.0% in 2023, we forecast Brazil's passenger EV sales to grow by 83.8% in 2024, achieving a passenger EV penetration rate of 5.2%. Although we maintain a positive outlook on Brazil's EV adoption in the medium term, we acknowledge that the 2024 reimplementation of taxes on EV imports, intended to safeguard local