In 2011, Brazil was the second largest exporter of Chinese cars after Russia. However, in August of that year, Brazil announced an increase in the industrial product tax IPI ratio, an increase of up to 30%, only the car companies that meet the premise of more than 65% of the spare parts produced in Brazil and the South American Common Market countries (Argentina, Uruguay and Paraguay) can enjoy the tax rebate. /Exemption. In response to this sudden trade protection policy, Chinese auto companies such as Chery and Jianghuai have established localized production in Brazil.
At present, Brazil has become the largest exporter of Chinese cars, and there are as many as 12 Chinese car brands sold in Brazil.
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