Move Brasil increases vehicle financing limit to R$ 200,000

Brazil's Ministry of Economic Development, Industry, Commerce and Services has updated the Move Brasil program, increasing the vehicle financing limit from R$ 150,000 to R$ 200,000. The program is designed to support taxi drivers and ride-hailing professionals by offering installment plans of up to 84 months with fixed interest rates. These rates, set by the National Monetary Council, are 12.6% per year for men and 11.5% for women, significantly lower than the market average of 28%.

The adjustment expands the program's reach to cover 88% of the national vehicle market, up from 63%. New additions to the approved list include several BYD models, such as the King, Song Pro, Song Pro Flex, and Atto 2. The inclusion of the BYD King specifically provides a price reduction of nearly R$ 40,000 for professionals through fiscal incentives. Other participating manufacturers include Volkswagen, Fiat, Renault, GM, Honda, Hyundai, Nissan, Peugeot, Toyota, BMW, and GWM, with a focus on flexible, hybrid, or electric vehicles.