Car sales show strong signs of recovery
Less than six months after the peak of the pandemic, when factories and dealers were shut, the recovery of the new car market is surprising sellers. October, the fourth consecutive month of growth, registered the highest monthly sales in the year so far.
The waiting time to buy the newest cars is of 60 days. Visiting the dealerships are consumers who are once again confident about their jobs, saved money by not traveling by plane, want to avoid public transportation or got tired of financial investments.
But the stock reduction also reflects the industry's decision to slow down the production pace, started buyout programs and cut expenses because of future uncertainties.
"The news is good, except for the lack of cars," says Gilson Andelmi, sales director at Grupo Amazonas, a São Paulo-based company with Fiat, Jeep, Ford, Peugeot and Citroën dealerships. At the group's stores, "a little of everything is missing." The longest waiting line, of around 60 days, is for Fiat's new pick-up truck Strada, in both versions, for delivery and passenger use.
Sales in October reached 215,000 vehicles, including trucks and buses, a number 3.54% higher than in September.
"We've noticed clients are more confident, making buying decisions thanks to better credit offers," says Alarico Assumpção Júnior, president of Fenabrave, industry group representing dealerships. Six months ago, when sales were down 80% in comparison with 2019, Mr. Assumpção Júnior was meeting mayors begging to be allowed to reopen stores.
The scenario has changed, but not enough to convince carmakers. Despite signs of recovery, compared to a year ago, monthly and accumulated volumes for the year are lower.
Sales in October fell 15.11% compared to the same month in 2019. In the accumulated of ten months, registration of 2.47 million vehicles represented a decrease of 25.74% in relation to the same period last year. This means that in almost a year the Brazilian market has shrunk by a quarter.And it is not going to recover so soon. Not in less than three or four years, according to Volkswagen Latin America CEO, Pablo Di Si, adding that was the reason for buyout program for workers the car maker started a few weeks ago and without date to end. "We have to be very careful with the money," Mr. Di Si says. As other makers, VW is under pressure from the parent to avoid losses in Brazil.
According to the executive, the lack of products in dealerships is a result of the company's strategy to shrink...
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