New Vehicle Sales Drop 3.1 Percent in January Compared to 2019, Says FENABRAVE

RIO DE JANEIRO, BRAZIL – The market for new vehicles started the year slowly in Brazil. In the first month of 2020, 193,400 units were sold among cars, light commercial, trucks and buses, down 3.1 percent from January of last year. Compared to the last month of 2019, which is traditionally more heated, there was a 26.3 percent decline.

The figures were released on Tuesday, February 4th, by FENABRAVE, a federation that includes vehicle dealers, and show that the year began contrary to the organization’s projection for 2020.

In early January, FENABRAVE announced that it expected total market growth of 9.6 percent in 2020, to 3.05 million units. Despite the decline in the first month of the year, this estimate is maintained.

The light vehicle category, which includes both passenger cars and light commercial vehicles, and represents over 90 percent of the total market, plate registrations totaled 184,100 units in January, down 3.4 percent from the same month in 2019 and 26.9 percent from the last month of last year. The projection for the year is for a nine percent increase.

The bus market also began 2020 in decline. A total of 2,100 units were sold in January, down 2.2 percent from January last year and 11.5 percent from December 2019. The forecast for the year is for a 16 percent increase.

The truck segment was the only one to record a positive variation. Sales grew 3.6 percent in January compared to the same month last year, to 7,100 units. However, it failed to rebound compared to December and retreated 13.7 percent. The projection for the year is for a 24 percent increase.

Source: InfoMoney