Program to make cars cheaper has already consumed R$ 400 million, 80% of the forecast

One day after being extended exclusively to individuals, the discount car sales program has already spent R$ 400 million of the R$ 500 million reserved by the Ministry of Development, Industry, Commerce and Services (MDIC). According to a survey released this Wednesday (21), the amount represents 80% of the total tax credits made available.

Government-sponsored discounts range from R$2,000 to R$8,000, but, according to the MDIC, many companies have applied higher margins on their own. Launched two weeks ago, the program allows the credits requested by automakers to be converted into consumer discounts on the purchase of cars with a market value of up to R$ 120,000.

The extension of the program for another 15 days just for individuals took car rental companies by surprise. In a statement published this Wednesday (21), the Brazilian Association of Car Rentals (ABLA) said that the new rule prevents “exactly the main customer of automakers, responsible for purchasing 30% of cars and light commercial vehicles sold in the country”.

“And that thus directly contributes to the stability of the automotive industry, to participate in the program that was also created so that automakers could sell stopped stocks”, he said.

On the other hand, subsidies for the purchase of trucks and buses did not change in the last 24 hours. Tax credits for the sale of trucks add up to R$100 million, 14% of the R$700 million available. For the sale of buses, R$ 140 million in credit were granted, out of a total of R$ 300 million available.