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a government action that causes car sales to skyrocket;  Understood!

a government action that causes car sales to skyrocket; Understood!

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The Brazilian auto industry has faced a sharp decline in zero-kilometer car sales in recent days, pending details of the federal government’s plan to lower new car prices.

Agents from several networks report that they see a unanimous movement of withdrawals and cancellations of purchases, which affected the achievement of the targets set for the month.

According to reports, many of these goals were about to be achieved until the day before the announcement made by Geraldo Alcmene, Vice President of the Republic and Minister of Development, Industry, Trade and Services, but now it is certain that they will not be. Achieve.

After the announcement, a rush of customers began to cancel purchases. According to market information, even the sale of premium and near-new cars was affected. This situation led the store to put up a sign outside telling them they offer “early discounts” of 2% off the list price.

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The market is currently suspended. Both manufacturers and dealers are not sure what to do. Many people were waiting for the announcement of the termination of negotiations, but now they will wait until all information is released, which must happen within 24 hours after the Vice President’s statement.

about the government proposal

Last May 25th, Alckmin announced the government’s intention to cut taxes, such as IPI and PIS/Cofins, in order to lower new car prices by up to R$120,000. Rebates may be as high as 10.96% of the final price of the vehicles, but the definition of the program still needs to go through the Ministry of Finance, which will issue its opinion on the matter.

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The market outlook has already been affected by the effects of this decision. According to specialists, the recovery of the Brazilian auto industry, which has suffered from low sales and high idle capacity at factories for three years, is not limited only to tax cuts and the availability of financing lines under more favorable conditions: it is necessary to improve consumer purchasing power.

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