Brazil’s car fleet will triple by 2050, said government-run energy research agency Empresa de Pesquisa Energetica (EPE).
According to an EPE report, Brazil should have 130 million cars running on the streets by 2050. The growth in the use of cars will be boosted by the expanding of Brazilian population, which should increase from the current 200 million to 225 million.
By 2050, EPE estimates there will be one car for 1.7 Brazilians. The rate is close to that of Spain, Italy, Germany and the UK, EPE said. The US has one car for every 1.2 citizens, according to the Brazil agency.
The Brazil automotive industry is a major market for the steel industry in the country and in the Latin America as well. According to media reports, Brazil automotive industry consumes about one third of all flat steel that is produced in the country.