The automotive landscape in Brazil has been subjected to considerable change over the last decade. With the entry of new market participants and a growing middle class population, the market offered opportunities for the automotive value-chain to flourish, leading to an industry that reached its all-time high of over 3.6 million passenger vehicles sales in 2012. However, in recent years, between 2013 and 2015, annual vehicle sales have declined, and this trend is expected to continue for the immediate term in 2016, reaching only about 1.9 - 2.0 million vehicles.
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