Brazilian consumers who succeed in retaining jobs and income during the difficult times of the crisis have returned to buy cars in recent months, reflecting some recovery of confidence after signs of economic recovery.
Here is the explanation of the credit area operators for large banks of Brazil's banks for growth in financing the segment, which helps increase sales in the year. Carmakers report optimism with the 2018 outcome even after drivers stop, the World Cup and elections.
According to data from the Central Bank, a vehicle portfolio grew by 12% in September compared to the same month of 2017. The data also appears in terms of banks in the third quarter According to Leandro Diniz, director of Bradesco's loan and financing department, the combination of interest rates, an aging fleet and a positive start of confidence curve brought the market back to demand.
"The one with credit is the same [consumidor] I have already been, but now people are more willing to change cars, "said Itaú's director Rodnei Bernardino de Souza, who's usually changing every two or three years, and here & Those people who are starting to return to the market.
"We're still growing at moderate rates, we have a little time to get back the number there, there's a call to call, people who delay before buying and changing the as I go into the confidence cycle, "said Finance Director of André Novaes.
The forecast for the year states that reaching the 3 million vehicles produced, which is still below 3.7 million arrived in 2013, the market record. It helps to attract customers the drop in the base interest rate, which ranged from 14.25% per year to low low 6.50%. With strong competition along these lines, banks tend to transfer the lowest cost to the user.
This month, for example, banks sign up loans with lower rates of 0.89% (excluding IOF and other costs, such as insurance that is usually included in longer loans and increasing the final loan ). The average monthly rate measured by the Central Bank is 1.7%, the lowest in the financial system for the individual, together with payroll for public servants. Low rates are possible, they say, because when the customer pays an access, it is less willing to give the best to pay the installments. In addition, the car is a guarantee in case of default.
This does not mean that banks have released the new funding criteria. "The banks back there have learned more to give this credit and have done homework. Banks do not make a crazy credit," said Santander's Novaes.
For Bradesco, there is a great area of growth before changing risk appetite.
"The bank has pre-approved almost 6 million customers to buy vehicles, and pre-analyzed another 10 million," said Diniz. In this space the automakers are betting to grow again. "In order to make money, the bank needs to lend to someone," said Roberto Akiyama, a commercial automotive vice president at Honda Automobiles, restarting the interest of banks in financing car sales.
"We have announced funding with strong, good rates of motivation rates and banks. We are gradually managing the credit rating rate," said María Alfonso, president of Cao Chery. Ford expects a sales increase of 10% in 2019, following industry forecasts, says Natan Vieira, vice president of marketing, sales and South America services. "We have worked with Bradesco, and we have a relatively high approval, there has been a trend of improvement over the past few years," he said.
"Unemployment remains strong, that is a problem, but this change is an industry for us. Retailing is becoming faster, slower, but it has responded," said Vieira . Roberto Bottura, president of Price Price (a company that specializes in vehicle pricing), has read more carefully for next year. For it, there will be no significant growth in the credit supply in the market, as sales should not increase very high.
"There may be an improvement, but the new car market is still unlikely to grow a lot next year. Banks are hungry but they are still scared because they have lost in 2015 and 2016 in the funding area . But they want to grow healthy, "said Bottura.