Historical series Within two years, financing of electric and hybrid vehicles at Itaú Unibanco has grown by 270%
February 23, 2023 – As society becomes increasingly interested in more sustainable alternatives, and with the acceleration in the maturation process of this industry, the demand for the acquisition of electric and hybrid vehicles has also been growing. At Itaú Unibanco, the volume of credit granted in 2022 for financing vehicles in these categories grew 270% in a two-year period compared to 2020. In relation to 2021, the bank also showed a 22% increase, reinforcing a constant upward movement.
“We identified that the consumer has been affected by the advantages of electric and hybrid vehicle models, in addition, of course, to an increasing awareness of people and industry of environmental issues,” says Rodnei Bernardino de Souza, director of Itaú Unibanco.
Fostering the development of mobility in the country, another significant figure observed was in the consumption behavior of Brazilians, who started to search more and online for hybrid versions through iCarros, Itaú Unibanco’s automotive marketplace. “In 2022, we saw a growth of over 500% in searches for vehicles with this type of fuel compared to 2021, showing that the hybrid/electric model is moving from a dream to a new reality. More than ever, in addition to putting our data expertise to work in favor of the market, we are demonstrating the strength of the platform and the ambition we have to pull the industry’s results upward,” reinforces Michele Vita, CEO of iCarros.
“Since 2019, we have offered differentiated rates to encourage the growth of the electric segment in the country, which may also have contributed to this increase in demand. With initiatives like this, in addition to reinforcing our concern for the environment, we offer our customers benefits that can be another motivator for this choice,” adds Rodnei. To finance electric and hybrid vehicles of various makes and models, Itaú offers rates starting at 1.29% a month, which vary according to the conditions chosen, the profile, and the customer’s relationship with the bank.