Haddad says automaker relief program will be expanded

The Minister of Finance, Fernando Haddad, informed that the government will expand the incentive program for the purchase of cars, including for legal entities in this second stage. The information was given in an interview on the Míriam Leitão program.

The government’s decision to expand the credit line came after the huge demand for more economical and less polluting cars. The discounted car sales program has already spent R$420 million of the R$500 million reserved by the Ministry of Development, Industry, Commerce and Services (MDIC). The amount represents 84% ​​of the total available tax credits.

This Tuesday (27), the Volkswagen company announced the temporary suspension of car production at its factories in Brazil. According to the company, the reason is “market stagnation”.

The new government program was launched on a temporary basis, on June 5th of this year, to lower the price of cars in Brazil. The criterion for defining the discount for cars was applied to vehicles with a market value of up to R$120,000, resulting in discounts ranging from R$2,000 to R$8,000 for new cars.

Discounted car sales were exclusive to individuals in the first 15 days, a period that can be extended for up to 60 days, depending on market response.