Argentine automakers cut prices for brand new models – MercoPress

Argentine car manufacturers are reducing the price of brand new models

Buyers may still be waiting for deeper cuts and the return of 2025 models to the market

Argentine carmakers announced over the weekend that they would cut retail prices of some of their brand new models after eliminating the so-called PAIS tax on transactions abroad that applied to imports of vehicles and auto parts, it said. The measure is also a response to a significant drop in sales.

Toyota Argentina announced on Monday a price cut for its cars to welcome the year-end abolition of the PAIS tax, which resulted in a 7.5% reduction in import costs. Therefore, all Toyota models imported from Brazil (Yaris, Corolla and Corolla Cross) are subject to a 3% discount in the December price lists, while the two models built in Argentina (Hilux and SW4) are subject to a 1% discount. Gustavo Salinas, CEO of Toyota Argentina, said that “this type of government action related to the abolition of taxes must be reflected in prices.”

Ford Argentina also applied an average reduction of 1%, regardless of the vehicle origin of the models, but according to their market positioning.

However, it has been reported that potential buyers are waiting for the new year in hopes that the prices of the vehicles could still fall, coupled with the upside in resale that a 2025 model has a higher value than a 2024 model, although the difference is only one day out of a few. Martín Galdeno, president of Ford Argentina, said the company is “evaluating” when to adjust prices.

All in all, brand new cars are much more expensive in Argentina than in Brazil, Paraguay or Chile.