Sale of trucks returned to be made with zero input and 60 months

The truck sales in Brazil went back to being made with zero input and term of 60 months for the financing, said on Tuesday, 3, Vice President for the National Federation of trucks distributing motor vehicles (Fenabrave), Sérgio Zonta, after press conference that presented the results of the setorpara the month of March.
According to him, these have been the consumer demands to close the deal. Banks, especially those of automakers, have stumbled. "Traditional banks are now beginning to follow this movement," said the Executive. Interest rates, according to the Executive, are also favorable, around 1% per month.
Such credit situations were only seen between 2010 and 2012, said the Executive, when sales of trucks to beat record-in 2011 the segment reached 172,000 units sold. However, he rejected the possibility of default rate back up, as occurred in that period. "The banks are much more selective," said Zonta.
So much so that, between 2010 and 2012, the loan approval level was eight to 10 requests each, reminded the Executive. This year, it has been four every 10, he said.
The demand for trucks has grown mainly in the extra segment, rather used by agribusiness and construction. This increased demand, coupled with more favourable credit conditions, might bump into a difficulty, said Zonta, since several automakers of trucks still have operated with only one shift of production. He, however, believes that the automakers are going to handle the demand.
Between January and March of 2018, truck sales in Brazil totaled 14600 units, 51.6% growth as compared to the same period last year. Only in March, were 5900 units sold, 44.8% advance against the same month of 2017. Fenabrave's prediction for the whole year is 17% expansion.