By Alzira Rodrigues | Translated by Jorge Meditsch
Fenabrave informed that credit application denial by financial institutions grew 20% last month and foresees sales deceleration in the semester.
Light vehicle sales fell 8.7% from 215.7 thousand units in July to 196.9 thousand in August. According to the organization, the result was not even worse because many vehicles included in the government’s discount package in July were licensed in August.
“We noticed an increase in credit denial in the last few weeks, with a close to 20% increase in financing applications by financial institutions. Credit is very restricted, and it affects much the market”, commented José Maurício Andreta Jr., Fenabrave’s president.
According to Andreta Jr., the 13.7% evolution this year is due to the low performance registered in the same period last year caused by the lack of parts, the war in Europe and higher fuel prices.
“In 2022, recovery only came in the second half. But this year, there are no signs of a strong recovery in the second semester”, he said.
From all segments accompanied by Fenabrave, only automobiles and light commercial vehicles lost sales in August. For the organization’s president, the government discount program showed that price is a factor that influences in the scale needed for the sector’s recovery.
Entry car sales grew during the period prices were reduced, but this trend halted after the end of the incentives.
“Automobile results in August, increased by the lower credit offer, shows clearly the need for a long-term industrial foment policy”, he said. He talked about a study to incentivize automobile and light commercial vehicle sales involving a possible price reduction and more credit offer without tax revenue loss by the government.
As opposed to last month’s information, when Fenabrave said it should forward a proposal to the government “soon”, the organization now emphasized that it would not talk about timing.
“We are undergoing simulations, and this takes time”, said Andreta Jr., signaling that market encouragement measures would difficulty be adopted this year.
Photo: Pixabay
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