The Minister of Economy, Luis Caputo, reported a measure that seeks to reduce the cost of vehicles by eliminating internal taxes and adjusting import tariffs.
Tomás Modini
@ModiniTomas
Luis Caputo announced that internal taxes will be eliminated for vehicles whose value is between 41 and 75 million pesos, which currently pay a rate of 20 percent. The rate for vehicles that exceed 75 million will also be reduced, going from 35 percent to 18 percent. According to the official, this decision could reduce the sale price by approximately 15 to 20 percent.
As for motorcycles, the internal tax will also be eliminated for those whose price ranges between 15 and 23 million pesos, generating an additional benefit for this segment of the market. This measure could have a special impact on mid-range and high-end units, encouraging sales and promoting a greater variety of models in dealerships.
This change, which will come into effect from February, aims to encourage demand in the automotive sector and offer more accessible alternatives for consumers.
Promotion of electric and hybrid vehicles
In addition to adjustments in internal taxes, the Government decided to reduce to zero the import tariffs for electric and hybrid cars with a FOB price of less than 16,000 dollars. An annual quota of 50,000 units was established for these vehicles in order to encourage their access and expand the options available in the national market. This initiative is part of a broader strategy to promote sustainable technologies and efficient mobility.
The FOB value, which corresponds to the price of the vehicles at the port of origin without including transportation costs or other charges, will be a key point in the implementation of this measure. According to sector specialists, this could allow the incorporation of new models accessible to a wider public.
Reactions from the automotive sector
The Association of Automotive Manufacturers (ADEFA) described the measure as “positive” and highlighted that it will contribute to the development of the automotive market. They also stressed that tax reduction is key to improving the competitiveness of the national industry, especially in a context of growing imports.
They also called on the provinces and municipalities to support it with similar measures that alleviate the tax burden and stimulate consumption.
The dealers also welcomed the announcement, as they believe that it will facilitate a rebound in sales after a period of reduced demand. “It is an opportunity to bring higher quality and technology models to the final consumer,” said the sector chamber.
When will the measure take effect?
The resolution will be published in the Official Gazette before January 31, which will allow its application from February. This initiative is part of a package of reforms promoted by the government of Javier Milei, which includes the elimination of export duties and other tax modifications in different sectors.
With these actions, the Executive seeks to promote greater dynamism in the automotive market, favor access to new technologies and consolidate its tax reduction agenda. At the same time, these measures are expected to generate a positive impact on the economy, because they encourage investment and create more favorable conditions for the development of the automotive industry.
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