Last year, the company exported $1.758 billion worth of complete cars and knocked down (assembly kit) vehicles, plus parts. Mercedes Benz was the country’s second largest exporter by ($1.547 bn) followed by General Motors ($1.468 bn). Volkswagen imports into Brazil were just short of the exports, topping $1.697 billion, and enough to also make it the biggest importer by value.
Group CAOA managed to surprise industry analysts by importing $1.652 billion worth of vehicles from overseas in 2010, becoming the second largest importer with its shipments of Hyundais from South Korea and a few Subarus from Japan.The company managed to take second place from Toyota, which imported vehicles worth $1.627 billion. But those came mostly from neighboring Argentina, with about 40 percent Brazilian parts content.
In the past, the company also assembled Golfs for the US market, and first generation Passats to Iraq between 1983 and 1988, mostly as taxis. The Polo-based Fox was also shipped to Europe and the UK from 2005 until the model was discontinued this quarter because the current exchange rate doesn’t favor exports to the old continent and also because the Up! will become the new bottom of the range.
In 2009, the company revealed its largest investment plan in Brazil, and also said it was aiming at selling 1 million cars by 2014. The $3.5 billion 2010-14 budget shared by Volkswagen Brazil came after recording a 70% rise in deliveries to customers for the year 2008.