Impulsed by motorcycles, vehicle financing grew 30% in March

By Redação AutoIndústria | 4/18/23 | Translated by Jorge Meditsch

Near 522 thousand new and used vehicles were financed in March, according to data provided by B3 (São Paulo Stock Exchange), which operates the SNG, National Encumbrances System, the register of financial restriction of vehicles used as a warranty in credit operations in the country.

The figures, including light and heavy vehicles and motorcycles, indicate a 29.8% growth compared to February and 11.6% more than in the same period last year.

The greatest contribution to this index came from motorcycles, the only segment that evolved over the market average, reaching a 36.7% growth compared to February and 23% more than last year.

Automobile financing grew 27.9% over February and just 8.9% from March 2022. Heavy vehicle financing increased by 25.7% compared to February but retracted by 0.5% compared to last year’s numbers.

In the first trimester, vehicle sales through financing were about 1.3 million. This number represents a 7.3% increase compared to the same period in 2022, about 93 thousand units more.

“The motorcycles segment kept high this year. In general, the first trimester of 2023 has shown positive results compared to the same period last year despite the high-interest rates and concern about default indicators’, said Gustavo Ferro, B3’s Market Planning and Intelligence manager.