‘Huge opportunities’ ahead for truckmakers in Brazil

Brazil remains the only significant truckmaker in South America. 2019 saw 7.5% annual growth in heavy-duty truck production, from 105,534 units to 113,476 units. Figures from OICA lay bare the disruption of COVID-19, with production over Q3 2020 down 33.6% from 87,452 units to 58,075 units. However, in relative terms, truckmakers have escaped the fate of the passenger car segment, where the impact has been so dramatic that some operations, such as Ford’s, have been shuttered entirely. What’s more, with the country’s long recession coming to an end, a return to GDP growth will only fuel demand for heavy-duty vehicles.