63 enterprises, the increase was 2.5%, from 4.5% to 7%. In addition, the amount released, which had been up to 100% of the value of the asset, was reduced by half. A year later, resources from the Investment Support Program (PSI) incorporated into Finame were eliminated. The PSI had been created in 2009 to help move the economy forward. The program offered a 100% subsidy in 2014, when Brazil was in recession. Consortiums are for those who plan - Even with the downward trend seen in the Selic base rate, the level is still high. This scenario, added to the credit restriction, favors consortiums, which are good options for those who want to plan purchases. Another feature is that they attract transport companies, which need to expand or renew their fleets, and self-employed truck drivers. In this case, the advantage is the payment over more installments than in Direct Consumer Credit, for example. Large transport companies acquire consortium quotas as part of their medium and long-term financial planning. The president of the Brazilian Association of Consortium Administrators (ABAC), Paulo Rossi, says he has noted companies and the self-employed have understood the importance of planning. According to ABAC, sales to companies account for 52.8% of the market, while self-employed professionals account for 47.2% of buyers. Data from ABAC indicate that in January 2024, new consortium quotas for heavy vehicles were up by 50% year on year. According to Rossi, it was a surprising and very encouraging performance. The executive says consortiums for trucks will grow by up to 15% this year - well above, therefore, the 2.5% increase seen in 2023. “The economy is favorable for quotas because the main characteristic of transportation is financial planning. So, buyers are now betting on a better scenario in the coming months,” says Rossi. Rossi believes financed sales of trucks fell because of high interest rates, but consortiums gained ground in the expectation of economic recovery. And because of its particular features, including long payment terms. lower final costs, and flexibility for the acquisition of products. Brazil now has 514,000 active consortium members in groups for trucks and highway implements. Rossi adds that more consortium members are buying several quotas to expand or renew fleets. In contrast to financing, there is no interest paid this finance, but there are administrative fees. In addition, consortiums offer access to full credit from the beginning of the process. Additionally, participants enter monthly draws and can also make bids to increase their chances of getting the asset before the end of the plan.
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