Fiat Chrysler is looking to gain market share in Brazil in 2017 after five consecutive years of declining share in the region, Reuters reports.
The automaker is hoping the introduction of updated and all-new vehicles, such as the 2017 Jeep Compass, will drive sales and growth in 2017. FCA’s commercial director in Brazil, Sergio Ferreira, told Reuters the company is not explicitly chasing market share in Brazil, but hopes growth will be the by-product of a more sales and healthier Brazilian car market.
, FCA currently has an 18.3 percent share of the automotive market in Brazil, down from 19.5 percent in 2015 and 23.1 percent in 2012. The Brazilian car industry has shrunk dramatically in recent years, however Ferreira believes it’s now hit rock bottom and should begin to bounce back in the New Year.
“The Brazilian market is not going to keep falling. It hit bottom in 2016,”he said. “If there is growth, it will be modest – in the single digits. And even in that conservative scenario, we should be growing.”
Ferreira said the introduction of two all-new models in 2017 should also help build market share in 2017, but declined to elaborate on the yet-to-be-shown products.