Funding for purchase of vehicles has reduced by 8.5%

The release of resources for financing of vehicles closed at R $ 9.6 billion in November, 8.5% reduction in comparison with October 2013, when they were granted R $ 10.5 billion, reported yesterday the National Association of financial firms of automakers (Anef). According to the institution, the continued credit reflecting the uncertainty of the last few months of the year sales of vehicles, with issues such as the resumption of the IPI and the requirement for security items such as ABS and airbag.
In the year to November, the total balance of the portfolio of financing presented indentation of 5.3%, reaching R $ 229,4 billion. In the last 12 months (November 2013 until the same month from 2012, when reached r $ 241 billion), the fall was of 4.8%. Although the numbers of funding do not present signs of recovery in the last months of the year, according to the Anef, default rates also lost strength, which leaves the automaker more optimistic.
The lack of payment funding contracts (CDC) above 90 days in the case of an individual, presented fall of 0.1 percentage points (p.p.) in November, staying at 5.3%. According to the President of the Anef, Decius Carbonari de Almeida, the followed falls of default keep the expectation that the market recovers in 2014.
"This sensible improvement in default rates can help institutions to introduce changes in their respective credit policies, allowing relief on rigidity of the evaluations of the proposals," he said in a note. "Furthermore, the recent definition of the requirement for security items in zero-kilometer vehicles and the new strategy for recovery of the IPI rate leave the scenario clearer. Although they can increase the value for the end consumer, make sure he has more agility in decision-making about buying ", completed Decius Carbonari.
According to the data released by the Anef, his associates practiced last November an average interest rate of 1.27% per month, 0.2 percentage points above the practiced in October, which was 1.25%. With that, the annual average rate amounted to 16.35%, compared to 16.08%.
US retail banks, according to the Association's figures, the average rate practised in the financing of vehicles (at the CDC for physical person) in November increased from 1.59% per month and 20.8% per year to 1.62% a.m. and 21.2% p.a., respectively.