Vehicle Purchase Financing Rises Steeply in 2019, Driven by Transportation Apps

The increase from January to November was 71.1 percent. In 12 months, it grew 80 percent to R$47.853 billion (US$11.963).

RIO DE JANEIRO, BRAZIL - Vehicle purchase financing grew the most this year among all types of companies, according to data released on Friday, December 27th, by the Central Bank, in a trend primarily influenced by the widespread use of transportation Apps.

From January to November, this figure increased 71.1 percent. In 12 months, it grew 80 percent to R$47.853(US$12) billion.

At a press conference, Renato Baldini, deputy head of the Central Bank's Statistics Department, stressed that the numbers show a new reality in relation to what occurred in previous years.

"Financing for vehicle purchases . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?