IP in the Automotive sector in Latin America

Automotive manufacturing is one of Europe’s most relevant industrial activities and it involves collateral sectors accounting for millions of jobs, large sums of investments, and a significant part of the region’s exports.

According to the study “Latin America Passenger Vehicle Market Outlook, 2019”, the Latin American market will keep growing, mainly led by Brazil, reaching 5.72 million units, with a 4.3% growth compared with 2018 (Source: Research and Markets).

Brazil is the largest market and the largest producer of automotive vehicles in the region of South America. In 2018, Brazil accounted for around 50% of the vehicles sold in the region of Latin America. Their new sales of vehicles increased by 5.2% to 2.87 million units in 2018, compared with 2.69 million units in 2017 (Source: Mordor Intelligence).