Interest rates of 26% do not prevent reaction and the automotive sector closes 2025 with a positive balance

The Brazilian automotive market ended 2025 with signs of renewed breath. Driven by a marginal improvement in credit conditions in the last quarter, new vehicle sales jumped 9.7% in December compared to the same period a year earlier. The data, compiled in the Sector Analysis of Data OLX Autos, indicate that the decline in delinquency — which fell to 5.32% among individuals and 3.40% for companies — was decisive in unlocking the yards at the end of the year.

The late reaction, however, occurred in a still restrictive monetary scenario. With the Selic rate stationary at 15% and average interest rates for vehicle financing reaching 26.6% in November, access to capital remained expensive. The expectation of the sector now falls on the Central Bank, with the start of the cycle of cuts in the basic rate expected for March 2026, which should alleviate the cost of installments.

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In 2025, this financial rigidity generated uneven performances. The total volume of financing shrank 0.7%, but the division by category exposes the difficulty of lower-income consumers: while credit for new models grew 2.7%, the used segment fell 1.5%. In the industry, resilience prevailed, with Anfavea reporting a 4.5% increase in production and 2.6% in total registrations over the 12 months.

The positive highlight was foreign trade. Exports of light vehicles soared 31%, driven by the economic recovery of Argentina, which absorbed almost 65% of Brazilian shipments. On the other hand, China consolidated itself as the largest origin of imports (44.3%). In the consumer’s pocket, the price dynamics followed opposite trends: in a year of controlled inflation (IPCA of 4.26%), new cars became more expensive by 3.05%, while used cars registered deflation of 2.26%, making them a more financially attractive option in the face of high interest rates.