The Brazilian auto market is hitting the bucket bottom, after being one of the most flourishing market in the world.
With all that, even if the situation seems to be getting just like in Europe, the BMW German based auto maker still holds pretty tight, since the premium segment “is growing as tax incentives” lead to cars being more affordable.
Alongside the BMW manufacturer stands the Mercedes-Benz automaker as well, with the premium segment being also a neglected situation.
Thus, we might be talking a 32% growth in the luxury car market, with the two automakers building local plants and thus benefiting from tax breaks on their imported models.
Arturo Pineiro, CEO at BMW Brazil states that the company has made the decision of investing even more in Brazil, as the country is a stable ground for the upcoming sales in the country.
BMW will be investing around 200 million euros in the first Brazilian plant, which would begin production late this year.
Mercedes-Benz will follow its direct competitor with an investment of 500 million euros for their new plant in Sao Paulo.