H. Yoo
Research expert covering South Korea
Automotive industry in Latin America - Statistics & Facts
In March 2024, Stellantis announced a historic investment of 5.6 billion euros into its South American vehicle production activities, including in the development of its biofuel and flex fuel models, which run partly on ethanol. This investment will shape the company’s operations in Brazil and the rest of the region, but Stellantis is not the only automotive company to invest in Latin America. Mexico and Brazil have the most developed automotive sectors – Mexico produced over four million motor vehicles in 2023, while the production of vehicles in Brazil added up to around 2.3 million units that year. In fact, these two Latin American countries ranked amongst the largest motor vehicle producers worldwide.
