Vehicle sales should grow 13% in 2024, Fenabrave projects

Growth

Last year, 4,108,041 units were registered compared to 3,667,325 in 2022

Sales of motor vehicles across the country grew 12.02% in 2023 compared to 2022, reveals a report from the National Federation of Motor Vehicle Distribution (Fenabrave).

Last year, 4,108,041 units were registered compared to 3,667,325 in 2022. Almost all segments closed the year with an increase: automobiles (9.13%) light commercial vehicles (20.44%), buses (12.63%) and motorcycles (16.10%). Only the truck sector ended the year with a decline: -16.39%.

In December, the total number of vehicles sold at dealerships was 400,020 units, which represents an increase of 10.74% compared to November (361,222 units) and 9.03% compared to December of the previous year (117,909 units).

According to the president of Fenabrave, Andretta Júnior, 2023 represents a year of recovery for the automotive sector and was the first year since 2019 in which more than two million cars and light commercial vehicles were registered. “We have to remember the impulse of the provisional measures that stimulated the sector and that show that it is necessary to seek permanent solutions that keep the market buoyant,” he said.

Andretta Júnior highlighted that, in addition to the provisional measures with fiscal stimuli, the improvement in credit due to the fall in interest rates was fundamental for the 12% increase.

“The availability and cost of credit have a lot of influence on consumers’ purchasing decisions. With the drop in default rates, there was greater availability of credit by financial institutions and this was noticed by the market”,

he stated.

Projections are high

For Fenabrave, global vehicle sales are expected to increase 13.54% in 2024, which totals 4,518,871 registered units. For cars and light commercial vehicles, the estimate is an increase of 12%, totaling 2,440,887 units.

Truck sales are expected to grow 10%, with 114,571 units registered and the bus segment is expected to reach 29,546 units sold, an increase of 20%. Road implements could grow 10%, with 99,296 units sold. The estimate for motorcycles is 1,834,571 units sold, which corresponds to an increase of 16%.

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