Brazil Autos: Pricing Tracker: Modest Deterioration in July; Premium Segments Potentially Feeling Some Chinese OEM Pressure

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Brazil Autos: Pricing Tracker: Modest Deterioration in July; Premium Segments Potentially Feeling Some Chinese OEM Pressure

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01 Jul 2026 20:31:27 ET │ 29 pages

Brazil Autos

Pricing Tracker: Modest Deterioration in July; Premium Segments

Potentially Feeling Some Chinese OEM Pressure

Filipe Nielsen AC

CITI'S TAKE +55-11-4009-5213

Data for July shows new car prices increasing 0.38% m-o-m on average, filipe.nielsen@citi.com

while Seminovos prices dropped -0.39% m-o-m. Used car price trends

deteriorated against last month’s data, but this level still suggests

Seminovos results under control for the level of depreciation carried by

Localiza and Movida. The softness continued concentrated within premium

segments, which are being potentially pressured by Chinese OEMs, but

trends within basic and electric vehicles remain resilient. While stable new

car prices suggest rationality about residual value, it’s possible that some

OEMs are offering bigger discounts that may not be seen in our data –

potentially exercising pressure that may drive incremental softness in the

used car data ahead. Key monthly charts are in the report.

New car market — On average, new car prices dropped -0.7% y-o-y in July, and

increased +0.38% m-o-m. Considering only ICE cars (entry-level, sedans and

premium combined), prices would have increased +0.13% m-o-m on average.

Among segments, on a m-o-m basis, entry-level cars increased +0.97%, basic

sedans increased +0.25%, premium cars reduced -0.82%, and electric models

increased +1.13%. This month’s discrepancy between basic and premium car prices

suggest that higher-end segments are being pressured by Chinese OEMs, while

impacts over basic models remain limited. Within basic EVs the price trend remains