Car sales in Brazil increase by 9.22%
1.063 million number plates have been issued this year
Between January and August, car sales in Brazil grew by 9.22 per cent compared to the same period in 2022. According to a report by the National Federation of Car Distribution (Fenabrave), published in Sao Paulo, 1.063 million number plates have been issued this year, compared to 973,000 in the first eight months of last year.
When comparing August this year to August 2022, there was a 1.1 per cent decline with 153,400 cars sold.
Fenabrave President Andreta Jr. believes the month-on-month decline is due to the end of temporary measures that provided discounts on car purchases.
“The federal government’s actions have given consumers who have lost purchasing power access to entry-level cars, showing that the price factor is affecting the scale needed for the sector to recover. The temporary measures were very important to warm up the market for a short period of time,” he said.
Motorbike sales rose 21.17% from January to August, with 1.045 million units registered. Two-wheeler sales rose 20.38% in August, with 142,700 motorbikes sold.
In the first eight months of the year, the truck segment declined by 16.66% with 67,400 units sold. In August, truck registrations fell 27% compared to the same month in 2022, with 9,000 units sold.
“The market is adjusting in terms of vehicle costs and in August, 77% of registered trucks met the Euro-6 standard (a rule that limits emissions for diesel vehicles),” commented the Fenabrave president. According to him, the sector should benefit from the funding programmes recently announced by the Federal Government, as reported by Toda Palavra, a partner of TV BRICS.