Construction machinery sales in Brazil this year will reach 15,800 units, a 37.8% decrease compared to the 25,389 units sold in 2014, according to the Association of Equipment Manufacturers. However, the downturn has not deterred global suppliers from building a presence in the Latin American country, where import taxes are high and much infrastructure build-out is still needed.
"We will not turn back," said Richard Klemens Stroebele, Liebherr's chief in Brazil, at the triennial M&T Expo, held last month in Sao Paulo for 40,000 visitors, a 16.7% drop in attendance since 2012. Liebherr has been in Brazil for more than 40 years and plans to expand mobile cranes and its factory in Guaratingueta.