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SÃO PAULO – The Rota 2030 program, which benefits the automotive sector, is positive in the introduction of a new industrial policy, with tax incentives for research and development and spending energy efficiency. "The new policy and decree are positive for the credit of automakers in Brazil, encouraging new investments in the sector and aligning them better with the global movement towards electrified vehicles," said Moody & # 39; ; s.
badyze badysts Carolina A. Chimenti and Marianna Waltz
The interim measure that created Route 2030 was signed on July 5th. Moody's point out in the report that automakers with operations in Brazil can deduct 10.2% of their total research and development expenses from their federal income taxes and their social contributions. The government expects the new policy to increase annual investment in the auto industry by $ 5 billion ($ 1.4 billion), providing up to $ 1.5 billion in annual tax incentives.
Moody's note that Rota 2030 aims to increase the energy efficiency of Brazilian vehicles by 11% by 2022, to incorporate technologies to help drive up to 2027 and to "labeling" automobiles based on their level of energy efficiency and safety
"Rota 2030 will benefit the Brazilian automotive sector as a whole, offering tax incentives at a time when car manufacturers are taking over shift work and investments to increase production and meet demand in the country. "
Analysts also compared Rota 2030 with Innovation-Auto. According to them, the main advantage is the lack of a tariff on imported vehicles, making the Brazilian domestic market more attractive to automakers without local production. In Inovar-Auto, valid until 2017, the industrial tax rate (IPI) was 30% to force automakers to have factories in the country. But since the beginning of 2018, with the end of Inovar-Auto, imports have increased by 29%, but accounted for 13% of total registrations, against 21% in 2012.
Another advantage of Rota 2030, according to Moody's badysts will allow better use of the ethanol production and distribution infrastructure to develop hybrid vehicles, which may be more accessible internally than electric vehicles that use only the drums.
However, they do not expect an increase in ethanol production. the production or sale of alternative fuel vehicles in the medium term due to the limited charging infrastructure for electric vehicles, the considerable investment by car manufacturers in these initiatives and the decline in vehicle performance relative to combustion engines
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