Falling lending rates, with the Selic rate as the benchmark, will help the market recover this year, but interest rates fall slowly
Despite the Carnival holidays and last month with fewer working days, production (189.7 thousand units), average daily sales (8.7 thousand units) and exports presented surprisingly positive results for the automotive industry compared to January this year. The percentage growth was impressive: +24.3%; +18.4% and +62.7% respectively.
The numbers in the first two months were also good compared to the same period in 2023: +8.9% and +19.8%, respectively. Only exports remained weak with a decline of 28%. These positive results reflect a very difficult start to 2023 and, in this perspective, we must wait for the next few months.
Inventories remained stable for 38 days in the first two months of 2024. The decline in financial interest rates, with the Selic rate as the benchmark, will help the market recover this year. At the same time, however, the decline in interest rates will be slow and this could postpone the purchase decision.
Marcio Leite, president of Anfavea, drew attention to the need for new durability tests to increase the ethanol blend from 27% up to 35% and, much more seriously, in the case of biodiesel from 14% to 20% or 25% (in 2031). Both additions are on the agenda of the National Energy Policy Council.
Electric and hybrid vehicles saw a decline in market share from 7.9% to 6.7% in car and light commercial vehicle sales in February. Specifically, pure electric vehicles represented only 2.3% of preferences last month, pluggable hybrids 2.1%; hybrids, 2.3%; gasoline, 4.6%; diesel, 10.5%; flexible, 78.2%.
Source: Terra
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