Vehicle sales rise 13.2% in JanuaryArchive/Brazil Agency
Published 05/02/2024 19:15
Vehicle sales showed growth of 13.2% in January, compared to the same month last year, according to the balance released this Monday, 5th, by Fenabrave, the association that represents dealerships.
Among passenger cars, light utility vehicles, trucks and buses, 161.6 thousand units were sold in the first month of 2024. The number was 35% below the total sold in December. This strong slowdown, however, is normal at the beginning of the year, especially after December showed significant volume, with the best monthly result in four years.
According to the president of Fenabrave, José Maurício Andreta Júnior, there was, in general, an improvement in the market due to the evolution of employment, added to the drop in interest rates and greater flow of credit in several segments.
“The cost of and access to credit improved from the last quarter of 2023. This, combined with the expectation of a reduction in official interest rates throughout 2024, has improved availability and reduced credit restrictions on the part of financial agents”, he commented Andreta Jr. Counting on the improvement in credit conditions, Fenabrave predicts a 12% growth in sales of brand new vehicles in 2024.
