Last month, more garments were made than in the same month last year, despite the fact that fewer patents were made. More credit options led to 40% of operations being carried out with a financial tool.
In the midst of the collapse of 0km patentsa positive fact emerged: the growth in May of financed sales in the automotive market, which represented 40% of total operations
According to reports from the Dealers Association (Acara)For new vehicles, 13,908 items were made, compared to 13,208 in May 2023. But the number of financed sales is highlighted by observing that last month there was a drop in patents of 13.8%, with 34,614 units, compared to 40,165 in the same month. from last year. Thus, in percentage terms, 40% of total sales were made with some type of financing, compared to 32.9% in 2023.
To see figures that are around 40%, you have to go back to 2022, while in the record years of 2013, practically half of the operations were financed.
Throughout 2023, for the lower supply of credits after the inflationary escalation, the month with the best proportion of patented garments had been February, with 35.3%. Now, after the drop in interest rates and the need for brands to boost demand – which continues to decline – more credit options have emerged. However, even despite zero-rate promotions, the market in the first five months reflects a collapse of 22.1% in year-on-year terms.
“There were (in May) 13,908 items that were registered to finance purchases of 0km vehicles, 8,044 (58%) corresponded to operations through the Savings Plan channel and 2,016 (15%) were bank pledges. The brand finance companies participated with 25% of the items over 0km and the rest is distributed between the dealerships (2%) and the rest of the entities,” said a statement from Acara.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
