Corporate leasing on the rise in Brazil

Corporate leasing has surpassed direct purchases in Brazil and the trend is expected to continue, GM Regional Sales representative Eduardo Freitas told Global Fleet.

“While about 40% of corporate vehicles are currently owned, leasing represents 60% of the market and rising,” said Freitas who is direct sales manager for General Motors South America (GMSA).

Especially with the US dollar rising 13.5% in value against the Brazilian real since the beginning of the year, it is better to lease now (currently BRL$3.70 to US$1.00). However, in neighboring Argentina which suffers from high inflation, a direct purchase may be the better option.

GMSA sold a total of 668,835 cars in 2017, up 14.5% year-over-year. The US-automaker also holds the title of best-selling car in the region, the subcompact hatchback Chevrolet Onix.