MercoPress. South Atlantic News Agency

Argentine carmakers lower price of brand-new models

Buyers might still wait for deeper cuts and 2025 models to get back on the market

Argentine carmakers announced during the weekend that they would be lowering the retail prices of some of their brand-new models after the suppression of the so-called PAIS tax on transactions abroad, which applied to the import of vehicles and autoparts, it was explained. The measure is also a response to a significant plunge in sales.

 Toyota Argentina announced a reduction in the prices of its cars as of Monday to welcome the elimination of the PAIS tax effective at the end of the year, resulting in a 7.5% reduction in import costs. Hence, all Toyota models imported from Brazil (Yaris, Corolla, and Corolla Cross), will have a 3% reduction in the December price lists, while the two models built in Argentina (Hilux and SW4) will have a 1% reduction. Toyota Argentina CEO Gustavo Salinas said that “this type of government measures related to the removal of taxes must be reflected in prices.”

Ford Argentina also applied an average reduction of 1% regardless of the vehicle's origin of the models but as per their market positioning.

However, potential buyers have been reported to be waiting for the new year hoping that vehicles might still lower their prices, coupled with the resale plus that a 2025 model has over a 2024 one although the difference is just one of a few days. Ford Argentina President Martín Galdeno said the company was “evaluating” when to twitch the prices.

All this considered, brand-new cars in Argentina are way more expensive than in Brazil, Paraguay, or Chile.