7 Anuário Abipeças e Sindipeças Abipeças and Sindipeças Yearbook 2026 From the President We need lower interest rates. The burden of sky-high Selic interest rates undermines our opportunity to build a virtuous future. A health and wellbeing business environment depends on economic stability, public spending control, moderate inflation, competitive exchange rates, and lower interest rates. Without ideal macroeconomic conditions for sustainable growth, we will continue to perform below the potential of our economy and global growth. The numbers speak for themselves. According to Serasa Experian, a record number of judicial reorganization filings were registered in 2025. 2466 companies resorted to this mechanism, a 13% increase compared to last year, resulting in 5680 companies under these circumstances. In parallel, data from the National Confederation of Commerce, Goods, Services, and Tourism (CNC) indicates that household debt has reached a record high, with around eighty million delinquent customers. Short-term measures may provide temporary relief, but without addressing the root of the problem, they do not offer a sustainable solution. To make strong progress while reducing inequalities, it is essential to drive our productivity gains, breaking deadlocks that hinder our development. Information collected by international bodies about Brazilian productivity at work has generated surprise and perplexity. According to the International Labor Organization (OIT), Brazil ranks 94th in labor productivity among 184 countries. In the relation production per hour worked, while G7 recorded an average of US$74,6 in 2025, Brazil has stagnated at US$21.2. This result keeps us far from the developed economies and behind our South American neighbors, such as Uruguay (US$ 38), Chile (US$ 34,4), and Argentina (US$ 33,8). To overcome this context, one needs to tackle the systemic barriers. Distortions associated with the high tax burden – despite the transition to the new model – the entrenched bureaucracy, legal and property insecurity, low education quality, restrictions on credit supply, and finally, high interest rates requiring ongoing addressing, were introduced into a national project. In addition to these issues, proposals that increase pressure on the corporate environment, such as the end of the 6-on, 1-off work schedule. From the outbreak of the conflicts in Eastern Europe to the war in Iran, impacted by the American government’s protectionist measures, the global geopolitics needs continuous monitoring, intense dialogue, and greater political coordination. Besides, the execution of the Mercosur-EU agreement indicates benefits and threats to the Brazilian industry. In the automotive industry, adaptations to the business model will be introduced, consolidation of business operations, and an increase in investment in RD&I to withstand European competition. At the same time, the Chinese manufacturers’ strategy is evolving toward global production, reshaping the industry. This movement goes beyond the model solely focused on exports, driven by the domestic economic slowdown, the price war in China, and the high tariffs imposed by the US and Europe. A study from AlixPartners reveals that Chinese manufacturers plan to triple their production abroad, from 1,2 million to 3,4 million vehicles, by 2030. Focusing on sixteen countries, Eastern Europe, and Latin America, they are the major destinations. In Latin America, Chinese brands account for 20% of the total sales of vehicles and for 50% of electric vehicles. Electrification of the fleet, AI-powered digitalization, and improved connectivity are transforming the global automotive industry, as we know, posing challenges to the Brazilian manufacturing chain and developing new business models focused on services and mobile solutions, beyond vehicle sales. Despite the delay of the structural reforms, Brazil can lead the decarbonization movement by leveraging its clean energy matrix and the availability of critical minerals. May the coming years be marked by prosperity and progress. Cláudio Sahad President of Abipeças and Sindipeças Addressing systemic barriers and building the future
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