Cars & Insurance
In a context with a dollar blue to 9.3 versus one official to 5.17, Argentines increasingly lean more to the
purchase of imported 0 km cars that are sold to the official dollar and have, in
some cases, up to 12 installments of funding. This practice is convenient for both the person having the dollar ticket and can change it on the parallel market, for which is paid in
pesos.
This is mainly due to national cars must follow the pace of inflation in their manufacturing costs and thus its
price in pesos is strongly increasing year after year, (we could say at rates of between 20% and 25%) when the cars imported, on the other hand, should not assume inflation of the country and in addition are acquired from an official
dollar virtually stable. Brands like Hyundai, Volvo, Jeep, Audi, BMW, are today in a position to compete in the country with the
national industry represented by Volkswagen, Peugeot, Citroen, etc
Sales of this type of cars and car insurance (imported and luxury) grew exponentially during the first quarter of 2013 versus
same period of 2012. According to of the Argentina Republic Auto Dealers Association (Acara) the Smart sales grew 63% and the Mini
49% versus last year. For importers, it is very positive to have a stable dollar with inflation on the rise in the local market, which is
generating the segment of imported cars to win market against comparable premises.
This trend, as well as to finance trips abroad with credit card, are some of the new customs that we are taking the
Argentines, to have a big difference between the two quotes of the dollar blue and the officer.
More than one may wonder how long this streak will last and are wondering if will come a "dealer dollar"?
Against leakage of dollars on the purchase of imported cars, the Government is evaluating to apply a surcharge to these consumption, as
they did with the "tourist dollar", we will see if he puts into practice or not.
purchase of imported 0 km cars that are sold to the official dollar and have, in
some cases, up to 12 installments of funding. This practice is convenient for both the person having the dollar ticket and can change it on the parallel market, for which is paid in
pesos.
This is mainly due to national cars must follow the pace of inflation in their manufacturing costs and thus its
price in pesos is strongly increasing year after year, (we could say at rates of between 20% and 25%) when the cars imported, on the other hand, should not assume inflation of the country and in addition are acquired from an official
dollar virtually stable. Brands like Hyundai, Volvo, Jeep, Audi, BMW, are today in a position to compete in the country with the
national industry represented by Volkswagen, Peugeot, Citroen, etc
Sales of this type of cars and car insurance (imported and luxury) grew exponentially during the first quarter of 2013 versus
same period of 2012. According to of the Argentina Republic Auto Dealers Association (Acara) the Smart sales grew 63% and the Mini
49% versus last year. For importers, it is very positive to have a stable dollar with inflation on the rise in the local market, which is
generating the segment of imported cars to win market against comparable premises.
This trend, as well as to finance trips abroad with credit card, are some of the new customs that we are taking the
Argentines, to have a big difference between the two quotes of the dollar blue and the officer.
More than one may wonder how long this streak will last and are wondering if will come a "dealer dollar"?
Against leakage of dollars on the purchase of imported cars, the Government is evaluating to apply a surcharge to these consumption, as
they did with the "tourist dollar", we will see if he puts into practice or not.