Real car prices fall for the first time since the pandemic, study shows

The price of cars in Brazil began to fall for the first time since the beginning of the pandemic, according to a study by Bright Consulting. The survey shows that the average list price of light vehicles fell 1.5% in real terms between 2025 and June 2026, from R$ 172.5 thousand to R$ 170.0 thousand. In the amount that the customer actually pays, the drop is greater: 3.5%, from R$ 157.7 thousand to R$ 152.1 thousand.

The two values are deflated, that is, they already discount the inflation of the period. It is this adjustment that separates a nominally more expensive car from a really more expensive car. In the 12 months up to June, the IPCA accumulated 4.64%, according to the IBGE. If the adjustment of a model was below that, the real price fell even if the label in reais went up: the car started to consume a smaller slice of the income of those who buy.

List price and paid price are not the same thing

The public price is the value suggested by the manufacturer, the one that appears on the website and in the price list. The transaction price is what leaves the customer’s account after discounts, bonuses, inventory campaigns, and subsidized financing. According to the consultancy, the distance between the two indicators continues to increase, a sign of increasingly high discounts. According to the study’s own numbers, the average difference jumped from R$ 14.8 thousand in 2025 to R$ 17.9 thousand in June this year.

The inflection interrupts a cycle opened in 2020. In the pandemic, the shortage of semiconductors and the imbalance between supply and demand allowed readjustments far above inflation. Production later normalized and discounts grew, but without the strength to bring down the real price.

Competition pushes the price down

Bright attributes the move to increased competition. The Brazilian market receives a growing number of new brands, most of them of Chinese origin, with recent portfolios and aggressive trade policy. In many cases, these models deliver more equipment than traditional rivals without a proportional charge in price.

Items such as driving assistance systems (ADAS), large multimedia screens, induction charger, 360° camera and panoramic roof are no longer differentials and have become almost mandatory in several segments. A relevant part of the dispute, says the consultancy, migrated from the nominal price to the volume of content delivered for the same value – or for a lower value.

The pressure has prompted incumbents to ramp up campaigns, offer bonuses, cut margins and accelerate product upgrades to keep up with market share. The trend should gain strength in the coming months, according to the study, with new industrial investments, expansion of local production, growth in imports and the arrival of more brands.