Sojitz : Enters Jaguar Land Rover Retail Business in Brazil

Brazil is the largest economy in Latin America, and the country's population is expected to continue to show stable growth. Brazil is seeing an increase in affluent consumers alongside the country's economic growth, and the premium car market is notably projected to grow by approximately 20% over the next five years. *

Established in 2005, Premier is an authorized dealer of JLR brand vehicles, and the company's strength lies in its ability to provide comprehensive services that span new and pre-owned vehicle sales to after-sales services. Premier operates a total of five dealerships in Brazil's southern states of Santa Catarina (SC) and Rio Grande do Sul (RS), which have a large concentration of high-income residents. Premier holds a 10% market share of JLR vehicle sales in Brazil, and the automotive dealer has a large presence in both states characterized by a strong customer network.

Sojitz has expanded sales in these two southern Brazilian states through the acquisition of an authorized BMW and MINI brand dealer (7 dealerships) in 2015, followed by the acquisition of an authorized Audi dealer (2 dealerships) in 2017. Through this most recent acquisition of an authorized JLR dealer, Sojitz aims to capture the steady growth in Brazil's premium car market while simultaneously focusing on automotive-related businesses such as wholesale, retail (new and pre-owned vehicles), financing, and after-sales services to strengthen and expand its value chain in Latin America.

*: Sojitz study