Higher interest, use cars prices and lower purchase power drove consumers away
By Redação AutoIndústria | Translated by Jorge Meditsch
The vehicle financing balance presented by B3 on Tuesday, 1/17, shows an 8.2% fall in term purchases in 2022, with 5.4 million transactions compared to 5.9 million the previous year.
In December, the market grew 5.6% over November, with 483 thousand new and used vehicles financed. Nonetheless, this performance wasn’t enough to overcome the 501 thousand units sold in the last month of 2021, resulting in a 3.8% fall.
According to B3’s evaluation, the last months of 2022 showed improvement, but some conditions pressed the result down. “Factors such as the increase of the basic interest rate, the higher price of used vehicles and people’s lower purchase power took the numbers below 2021”, said in a note Tatiana Masumoto Costa, B3’s Planning superintendent.
New and used light vehicle financing grew 6.3% in December over November to 351 thousand units but went 7.4% down compared to the same month in 2021 when 379 thousand units were financed.
Heavy vehicle financing grew 18,8% compared to November, with 26 thousand units. Compared to previous year’s December, the performance was stable, with a slight 1% reduction.
Motorcycles had 103 thousand units sold on term in December, 0.3% over November and a 9.4% increase over the 95 thousand motorcycles negotiated in December 2021.
The motorcycle segment was the only one to show growth in financing in 2022 compared to 2021, a 13.8% high. Light and heavy vehicle financing decreased by 12.9% and 11%, respectively.
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