CAOA
Brazilian automotive company involved in vehicle distribution, manufacturing, assembly, and after-sales services.
Last updated August 31, 2026
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Overview
CAOA, formally known as Grupo Caoa, is a Brazilian automotive company founded in 1979 by physician and entrepreneur Carlos Alberto de Oliveira Andrade. The company began through an unusual dealership acquisition: Andrade purchased a Ford Landau from a dealership in Campina Grande, Paraíba, but the dealership failed before delivering the vehicle. He retained the dealership as compensation and developed it into an automotive distribution business. Within several years, CAOA had become the largest Ford dealer in Latin America, according to the company’s historical account. The group expanded significantly after Brazil began permitting greater vehicle imports in 1992. It became an importer and distributor for several international manufacturers, including Renault, Subaru, and Hyundai. CAOA assumed representation of Subaru in Brazil in 1998 and Hyundai in 1999. Hyundai became particularly important to the group’s Brazilian business. In the early 2000s, Hyundai was described as the leading brand in Brazil’s import market, while the Tucson became one of the country’s best-selling sport-utility vehicles. CAOA later moved beyond distribution into local assembly and manufacturing. In 2007, it opened Caoa Montadora de Veículos in the Agroindustrial District of Anápolis, Goiás. The plant was developed with a reported initial investment of R$1.2 billion and assembled Hyundai vehicles as well as commercial models. The facility produced vehicles including the Tucson, HR, and HD78, and was subsequently upgraded for production of the Hyundai ix35. A further investment cycle in 2013 added assembly-line improvements and ten welding robots, with the stated objective of increasing automation and production capability. The company has also promoted environmental and community initiatives connected to its Anápolis operation. In 2010, the factory received recognition from IstoÉ Dinheiro for waste-reuse practices and participation in reforestation in Brazil’s Central-West region. In 2017, Hyundai CAOA ranked first in a Brazilian vehicle after-sales satisfaction survey conducted by J.D. Power, based on responses from more than 3,700 recent new-vehicle buyers. CAOA broadened its manufacturing and brand portfolio in 2017 by acquiring 50.7% of Chery’s Brazilian operations. The transaction created Caoa Chery, combining the Chinese manufacturer’s Brazilian activities with CAOA’s local distribution, manufacturing, and retail infrastructure. CAOA’s operations therefore encompass vehicle importing and distribution, manufacturing and assembly, dealerships, maintenance, parts, and after-sales services. The group’s principal automotive relationships in the reference material are Hyundai, Subaru, and Chery, with production concentrated at facilities in Anápolis and Jacareí. Its positioning is that of a locally rooted Brazilian automotive group using domestic manufacturing and distribution capabilities to represent international vehicle brands in Brazil.
History
Grupo CAOA originated in 1979 when Carlos Alberto de Oliveira Andrade acquired a Ford dealership in Campina Grande, Paraíba, after a failed vehicle purchase left the dealership unable to deliver his Ford Landau. Andrade kept the dealership and built it into the foundation of an expanding automotive business. By the mid-1980s, the company had reportedly become Ford’s largest dealer in Latin America. A major turning point came in 1992, when Brazil liberalized vehicle imports. CAOA used the opening to expand from dealership operations into the importation and distribution of foreign automotive brands. Renault was among the brands represented during this expansion. The group took over Subaru representation in Brazil in 1998 and Hyundai representation in 1999. Hyundai subsequently became a major component of CAOA’s Brazilian activities, with the Tucson achieving strong sales in the sport-utility segment and Hyundai becoming a leading imported brand in the early 2000s. CAOA entered local production in 2007 with the opening of Caoa Montadora de Veículos in Anápolis, Goiás. The factory was developed with a reported R$1.2 billion initial investment and assembled Hyundai passenger and commercial vehicles. Its production portfolio included the Tucson, HR, and HD78. In 2013, the plant underwent another investment cycle to prepare for Hyundai ix35 production. The work included assembly-line upgrades and the installation of ten welding robots, reportedly automating approximately half of the welding operation. The 10,000th locally assembled ix35 was celebrated in May 2014. The Anápolis operation also became associated with environmental initiatives, including reuse of production waste and reforestation activity in the Central-West region. These efforts contributed to recognition from IstoÉ Dinheiro in 2010. In 2017, Hyundai CAOA was ranked first in a Brazilian vehicle after-sales satisfaction survey conducted by J.D. Power. The group’s manufacturing footprint expanded in September 2017 when CAOA acquired 50.7% of Chery’s Brazilian operations. The transaction resulted in Caoa Chery and gave CAOA an additional manufacturing base in Jacareí, São Paulo, while Chery’s existing Brazilian activities were integrated with CAOA’s local commercial and industrial network. The group consequently operated both as an automotive distributor for international brands and as a domestic assembler and manufacturer. CAOA has also faced allegations and investigations. In 2011, it was reported to the Public Ministry of Minas Gerais over claims that some advertising for Subaru and Hyundai vehicles may have been misleading, including claims concerning model years, safety equipment, engine specifications, and power. In 2015 and 2016, the group was investigated in connection with allegations involving lobbying for automotive tax legislation and alleged payments to public officials in relation to tax benefits and government measures. In 2017, the Federal Public Ministry expanded inquiries into the company’s relationship with Antonio Palocci after contracts between CAOA and Palocci’s consulting company were identified. The cited material describes allegations and investigations, not a final judicial determination. CAOA’s business identity is therefore based on a combination of Brazilian automotive entrepreneurship, foreign-brand representation, local manufacturing, dealership distribution, and after-sales support. The company’s best-documented strategic development has been its progression from a Ford dealership to an importer and distributor, then to a manufacturer and majority partner in the Caoa Chery venture.
- 2017
Caoa Chery formed
[1]CAOA acquired 50.7% of Chery’s Brazilian operations, combining the companies’ local activities under the Caoa Chery venture.
- 2014
10,000th locally assembled ix35
[1]The Anápolis facility marked production of its 10,000th Hyundai ix35.
- 2013
Anápolis plant upgraded for ix35 production
[1]A new investment cycle upgraded the plant’s assembly line and added ten welding robots for Hyundai ix35 production.
- 2007
Anápolis manufacturing plant opens
[1]CAOA opened Caoa Montadora de Veículos in Anápolis, Goiás, creating a domestic vehicle assembly and manufacturing base.
- 1999
Hyundai representation begins
[1]Hyundai transferred its Brazilian representation to CAOA.
- 1998
Subaru representation begins
[1]CAOA became the Brazilian representative and importer for Subaru.
- 1992
Expansion into vehicle importing
[1]Brazil’s opening to vehicle imports enabled CAOA to broaden its business into international automotive distribution.
- 1985
Expansion as a major Ford dealer
[1]Within six years of its creation, the group was described as Ford’s largest dealer in Latin America.
- 1979
Company founded through dealership acquisition
[1]Carlos Alberto de Oliveira Andrade retained a Ford dealership in Campina Grande after it failed to deliver a vehicle he had purchased, establishing the business that became Grupo CAOA.
Products and positioning
Brazilian automotive manufacturer, importer, distributor, and dealer group focused on representing international vehicle brands while maintaining domestic assembly and manufacturing operations.
Sport-utility vehicle
Hyundai Tucson
The Tucson was one of the most commercially significant Hyundai models associated with CAOA’s Brazilian import and distribution business. The model was described as Brazil’s best-selling SUV during the period when Hyundai led the country’s import market.
Sport-utility vehicle · 2013
Hyundai ix35
The ix35 became a locally assembled Hyundai model at CAOA’s Anápolis plant. Production preparation led to assembly-line modernization and increased robotic welding capacity, and the facility celebrated its 10,000th ix35 in 2014.
Light commercial vehicle
Hyundai HR
The HR was among the commercial vehicles assembled at CAOA’s Anápolis factory, alongside the HD78. It represented the company’s participation in Brazil’s light commercial vehicle segment in addition to passenger-car production.
Commercial vehicle
Hyundai HD78
The HD78 was part of the commercial-vehicle portfolio produced at the Anápolis facility. Its inclusion demonstrated that CAOA’s local industrial operations extended beyond passenger cars and sport-utility vehicles.
Passenger cars and sport-utility vehicles · 2017
Caoa Chery vehicles
Caoa Chery represents the Brazilian manufacturing and distribution partnership created after CAOA acquired a majority stake in Chery’s Brazilian operations. The venture expanded CAOA’s portfolio of locally produced and distributed vehicles.
Controversies
2017
Federal inquiry into Palocci-linked consulting contracts
The Federal Public Ministry expanded an investigation after identifying contracts between CAOA and Projeto, a consulting company associated with Antonio Palocci.
2016
Alleged bribes linked to tax benefits
CAOA was accused of making improper payments connected to the approval of another provisional measure and to tax benefits involving public officials. The cited material presents these as allegations and investigations.
2015
Investigation into automotive tax legislation lobbying
The company was investigated with other automakers over allegations that lobbying influenced approval of a provisional measure granting tax benefits to automotive companies.
2011
Alleged misleading advertising
CAOA was reported to the Public Ministry of Minas Gerais over alleged inaccuracies in advertising for Subaru and Hyundai vehicles, including claims about model years, safety, engines, and power.
Brand decisions
2017
Acquire majority stake in Chery BrazilM&ABackground
CAOA aimed to broaden its domestic manufacturing and distribution portfolio beyond its Hyundai and Subaru relationships.
Action taken
The group acquired 50.7% of Chery’s Brazilian operations and formed Caoa Chery.
Aftermath
CAOA gained an additional manufacturing operation in Jacareí and expanded its role as a Brazilian producer and distributor of international vehicle brands.
2013
Upgrade Anápolis for Hyundai ix35 productionGeneration changeBackground
CAOA prepared its Anápolis plant to produce the Hyundai ix35 and improve assembly efficiency.
Action taken
The company invested in assembly-line improvements and installed ten welding robots.
Aftermath
The plant began producing the ix35 and later celebrated its 10,000th locally assembled unit.
Reported investment. R$600 million (2013)
2007
Build a domestic manufacturing operationStrategyBackground
After years of dealership and import activity, CAOA sought to establish a Brazilian industrial base.
Action taken
The group opened Caoa Montadora de Veículos in Anápolis, Goiás, for assembly and manufacturing of Hyundai and commercial vehicles.
Aftermath
The facility became a central part of CAOA’s manufacturing footprint and later received upgrades for additional Hyundai production.
Initial reported investment. R$1.2 billion (2007)
Recent events
Axalta named Best Supplier by CAOA Chery in Brazil[2]
Reported:
Axalta was named Best Supplier by CAOA Chery in Brazil and also received recognition for Innovation and Excellence in Direct Purchase.
Sources2 sources
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