Automotive market surprises in February and surpasses January

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Automotive market surprises in February
Automotive market surprises in February

The intensification of promotions in the second half of February was decisive for the light vehicle market to reach 155.9 thousand units in the month, a volume 2.5% higher than in January (152 thousand units) and 30% higher than that recorded in the second month of last year (119.7 thousand).

It is important to remember that in addition to February having a lower number of working days, there was also Carnival this year in the first fortnight. January, on the other hand, had only the holiday on the 1st and, in the case of São Paulo, the largest market in the country, on the 20th.

In the daily average, the automotive market showed a 25% increase in sales last month – 8.2 thousand registrations – compared to the previous month (6.6 thousand). Sales exploded at the end of the month, reaching 14,392 light vehicle registrations on Thursday, 29.

Compared to February 2023, when there were almost 6.7 thousand sales per working day – the growth was 22.7%, according to preliminary data released by a source linked to car dealerships.

Consultancies specializing in automotive retail, such as Jato, expected a maximum of 142.5 thousand registrations in February.

Automotive Market Sales in the First Two Months

In the first two months, sales reached 308.6 thousand automobiles and light commercial vehicles, an increase of 22.7% compared to the same period in 2023, when 251.5 thousand licenses were registered in this segment.

It is a surprising index considering the more conservative projections of Fenabrave (up 6%) and Anfavea (stability). The vehicle dealers’ entity is expected to release official market figures on Monday, 4.

Regarding promotions in the automotive market, everything has happened in the last fortnight. Most brands appealed to zero interest rates, but also significant discounts on the list value, offer of insurance and free IPVA, and overvaluation of the used one.