By AutoIndústria |Translated by Jorge Meditsch
B3 numbers regarding new and used vehicle financing, including light, heavy and motorcycles this year, indicate a 9.7% fall from January through September compared to the same period in 2021, equivalent to 400 thousand fewer installment purchases.
Four million vehicles were financed in 2022 – 2.8 million used and 1.2 new – compared to 4.4 million in 2021 (respectively, 3.1 million and 1.3 million).
Executives from Anfavea and Fenabrave have alerted that consumers are facing increasing difficulties in obtaining financing due to high interest or high delinquency – over 5% in the automotive sector – that take financing institutions to be more restrictive.
Especially in September, the B3 indicates an increase in the average number of financing contracts per business day compared to August, which had two working days less (23 vs. 21). There were 47 thousand vehicle installment sales, 4.3% less than in the previous month, and 5.7% under September 2021. The drop was even bigger in the light vehicles segment, respectively 5.1% and 9.4%.
Heavy vehicle financing in September went 2.4% back compared to August and 5.9% compared to the same month in 2021. Motorcycles, with 102 thousand units financed, shrank 2.1% compared to August but grew 8.7% over the same month last year.
“Until now, August was the month with the largest volume of vehicles financed this year, with 492 thousand units and a growth in all segments”, commented Tatiana Masumoto Costa, B3’s Planning superintendent. “But the month had two working days less than September, which impacted the numbers”.
B3 operates the National Liens System (SNG), which manages financial restrictions on vehicles used as guarantees on credit operations across Brazil.
Photograph: Pixabay
