Popular car: program has already used 60% of the available resource – 06/18/2023 – Market

The resources requested by automakers that joined the plan that seeks to reduce the price of popular cars launched by the Lula (PT) government already add up to R$ 300 million – which represents 60% of the available ceiling.

According to Sheet found out, this mark was reached on Saturday (17), and a new balance sheet with updated data on the program should be released on Monday (19) by the Ministry of Development, Industry, Commerce and Services.

The program was launched on the 5th of this month. At that time, the government estimated duration of up to four months. The sector, however, foresees that the measure can be ended with just one month, for reaching the established ceiling.

The latest official data from the program, released on Friday (16) by the ministry, indicated that the requested resources totaled R$ 170 million.

On the same day, the folder also updated the list of cars included in the discount program, reaching the number of 266 versions and 32 models from nine automakers.

Companies can request more funds as they use the amounts requested until the limit of R$ 500 million available as a tax credit for cars is reached.

Discounts sponsored by the government for popular cars range from R$2,000 to R$8,000, and may reach higher values ​​at the discretion of manufacturers and dealerships. This represents a reduction of between 1.6% and 11.6% in current values.

Lower price, energy efficiency and national content (local production index) were the three criteria taken into account to define the discount bands. The higher the score on these items, the greater the applicable discount.

At the ministerial meeting held on Thursday (15), the vice president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin (PSB), presented the results of the tax reduction program for cars, buses and trucks.

According to reports from participants, Lula would have joked with the vice president, asking him to go and warn Fernando Haddad (Finance) that “we will want to extend the incentive”, because it is a success.

Officially, however, the government denies any intentions of extending the measure. The Minister of the Civil House, Rui Costa, told the press after the meeting that this measure “is not the government’s plan”.

“He made a joke, when Alckmin reported that the program was having an absolute success. He made a joke, but it is not in the government’s planning”, said Rui Costa.