Rio de Janeiro (Reuters)-Stellantis vehicle production in Brazil is expected to grow this year despite market challenges that include high interest rates, said the vice president for regulatory affairs for the group, João Irineu Medeiros.
Last year, the company that brings together several brands such as Jeep, Citroen and Fiat, produced about 900,000 vehicles in Brazil.
“The market is difficult and is always very complex, but Brazil today sells 2.5 million light vehicles per year and a trend is to reach 2030 in 3 million, according to major consultancies,” the executive told Reuters while delivery of the ESPERA Integrity Annatorium Award.
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“We are not expected to loss or reduction (production) for this year. We do not know how much we can grow this year because we are in its midst yet,” he added.
The executive believes that the group is almost immune to US tariff against Brazil as most national production is focused on local demand and few vehicles are sold to Mexico.
“Our largest market is here, we produce in Brazil and Argentina and export to Latin America, we have no direct impact of this movement,” said Medeiros.
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The group announced a week in the opening of a vehicle disassembly center in Osasco, Greater São Paulo, and the perspective, Medeiros said, is that the installation can reduce Stellantis costs and cheaper vehicle prices.
