Opinion – Eduardo Sodré: Consumers want a new car, but lack of credit and interest rates remain

The good production and sales figures recorded in August are not enough to dispel the doubts that hang over the automotive industry. The improvement in the supply of components and the interest of consumers collide with high interest rates and restricted credit.

There is a desire: according to a survey carried out by Webmotors Autosights, 83% of consumers who went through the classifieds portal intend to buy a car – or exchange the old one for another, newer one – by the end of this year.

The survey, which had 2,000 respondents, shows that SUVs with a flex engine, whether used or zero-kilometers, are the dreams of consumption, with 41% of preference.

The problem appears when revealing the form of payment: 60% of the respondents intend to resort to financing. With the basic interest rate approaching 14%, the scenario is not the best for this type of business.

This Friday (9), the president of Anfavea, Márcio Lima Leite, said that about 70% of the cars sold in August were paid in cash. It is a rare phenomenon, which occurs due to the increase in credit – or lack of it.

In addition, 52% of licenses were through direct sales. The main customers, therefore, were companies such as rental companies. In retail, default rates continue to grow month by month, slowly and steadily.

For the individual consumer, one of the reflections of this movement appears in the price of used cars advertised. More expensive models begin to appear with values ​​below tables such as Fipe and KBB Brasil. This does not mean that they are cheap, but that there is a correction of the distortions.

With the lack of components and, consequently, of new cars for prompt delivery, the values ​​of used models soared. The reference tables were outdated and, throughout 2021 and 2022, they were readjusted. Now the inverse movement begins to occur, with a gradual fall in the values ​​practiced in the market.

Among zero-kilometers, the return of promotions with “interest-free” installments in a few months and longer grace periods shows that there is concern about inventories. The objective is to attract consumers who have a good credit profile, but who do the math and are not excited to change their car now.

All these factors reveal that there is an ongoing market readjustment process, the duration of which is still difficult to estimate. But the supply of cars continues to rise, with important launches on the way. The next one will be the Fiat Fastback, whose prices and versions will be revealed on Wednesday (14).

It is exactly the most desired car profile, according to the study by Webmotors: SUV and flex. It tends to be successful, but that will depend on how much credit will be available in the market, and how much consumers will be able to pay.