Vehicle sales fall 9.9% in November 2014, says IBGE

Sales of vehicles and motorcycles, parts and pieces retreated 9.9% in November, compared with the same month of 2013, the ninth consecutive negative rate in this type of comparison. As a result, the expanded retail recorded fall of 2.7 percent in the period, influenced also by 2.4% indentation in volume sold construction material. The data are from monthly survey of Commerce released on Wednesday, 14, by the Brazilian Institute of geography and statistics (IBGE). "The expanded retail had negative year-to-year rate six because of its dependence on the result of vehicles, "said Nilo Lopes, Coordination of technical services and Trade of IBGE.There has been little recovery in auto sales in comparison with the previous month, but because the volume sold was very low, in the evaluation of Lee. The high sales amounted to 5.5% in November compared to October, but still insufficient to recover the level of last year.
The accumulated from January to November 2014, the activity of vehicles and motorcycles, parts and pieces recorded retraction of 9.5%. As a result, the expanded retail rate fell 1.6% during the period.
"There have been several situations that have damaged the vehicle activity: the indebtedness of families, the high default rates in the area of vehicles, the increase in the interest rate, a bit of credit constraint due to default and the gradual withdrawal of incentives (such as reducing the tax on industrialized products). So is a set of factors, "said Lee.