A Marcopolo recorded a result above what the market expected in the first quarter of 2026.
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In an exclusive interview with CNN MoneyPablo Motta, the company’s financial director, attributed the positive result to a more favorable product mix
“In this first quarter, we are delivering heavier road vehicles, with higher added value compared to what we delivered last year,” he stated.
According to him, this composition contributed to better profitability, even in the face of a 1.3% drop in revenue and a 9% decline in production volume.
Geographic diversification was also highlighted as a decisive factor. Marcopolo operates in seven other countries besides Brazil, and Motta highlighted that possible losses in one market can be offset by gains in others.
“The result of this first quarter is a sum of the forces that Marcopolo has been building over the last few years to diversify these sources that generate results”, he said.
Despite the good overall performance, sales volume fell significantly in several markets, particularly Mexico, the company’s largest international market, where sales fell 80.7%.
The executive related this drop to the impact of tariffs imposed on several countries, which slowed investments directed to Mexico for export purposes to the United States.
“Lower investment, less mobility, less demand for fleet renewal”, he summarized.
Still, Motta assessed that the downturn in Mexico is a one-off.
“Mexico is and will continue to be a very relevant market for Marcopolo,” he stated, adding that pent-up demand should materialize as soon as the scenario of trade agreements between Canada, the United States and Mexico becomes clearer.
In the short term, the operation in Australia has compensated for the Mexican absence. According to him, the Australian portfolio already extends until 2027, with orders for vehicles with high added value and new propulsion systems.
High interest rates, diesel and the Móvel Brasil program
Asked about the impact of high interest rates in Brazil, Pablo Motta acknowledged that the financial cost of between 19% and 21% per year has limited fleet renewal, especially in the urban bus segment.
He also cited the increase in the price of — as an additional factor of pressure on urban operators, who depend on tariff adjustments with municipalities.
In the road segment, however, the increase in air tickets due to the increase in traffic has favored bus operators, who see an opportunity to expand passenger transport.
Furthermore, Pablo Motta highlighted the publication of the program, which included buses and road equipment among the capital assets benefiting from a reduction in financial costs.
“We will see costs falling to somewhere around 13% and 14% per year”, he projected, representing a drop of around 7 percentage points in relation to current rates.
Public tenders guarantee a robust portfolio
In the field of public tenders, Pablo Motta highlighted two relevant contracts.
In the Caminhos da Escola program, Marcopolo was successful with approximately 600 buses and around 6 thousand units between micro and urban, in partnership with a chassis manufacturer, out of a total of more than 7 thousand buses tendered.
Deliveries should begin in the second half of 2026.
In the contract with the Ministry of Health, signed the previous year, the company foresees the delivery of up to 1,500 executive minibuses by the end of the first half of 2026, with the potential to reach 3,000 units.
