São Paulo – Sales of vehicles, light commercial vehicles, trucks and bus chassis went up 21.3% from January to April over last year’s first four months, according to date released by the Automotive Vehicle Distribution National Federation (FENABRAVE) this Wednesday (2). In all, 762,900 vehicles were issued a license.
In April, Brazilians bought 217,400 vehicles, up 38.5% over the same month of last year, and up 4.8% over March 2018. The association’s president, Alarico Assumpção Júnior, said, in a statement, that the market stands firmly on its recovery route, following the predicted growth pointed out by FENABRAVE.
“The decline in defaults, alongside the drop in interest rates, have been favoring the sector as a whole. Currently, the default rate for the loan portfolio, with free resources for individuals, is of 2.5%, and of 3.6% for corporate entities. These results are the lowest since April 2011, factors that favor the credit supply by financial institutions,” said the entrepreneur.
Translated by Sérgio Kakitani
