Friday, September 29, 2023

In 12 months, cars rose 103% (less than inflation and dollars)

The automotive market is going through difficult months. The closure of imports for 60 days, between July and August, The post-PASO devaluation of the peso and more cautious demand due to the proximity of the elections changed the previous pace, although there were many complications.

For this reason, after a long period of consumers having to pay premiums to buy a 0 km car, some brands began to offer discounts.

This change is felt in the segment of nationally produced models, which have a better range and account for almost 70% of total sales.

Among the imported ones The situation is different, as the entry restrictions for vehicles remain in place and for this reason surcharges continue to be levied on the list prices and there are delays in the delivery of a vehicle lasting several months.

In this context, the sharp rise in the official dollar last month had a full impact on the 0km values.

Nevertheless, the average increase in 0 km prices was below inflation and the increase in the exchange rate.

According to the latest report from Siomaa, the organization responsible for automobile trade statistics, The Industry Price Index (IPSA) rose 9.6% in August, while general inflation measured by the INDEC was 12.4%. Meanwhile, the price of the official dollar rose 20.9%.

Taking into account the variation over the last 12 months, the 0km increased by 103.7% against 124.4% of the CPI and 138.1% of the nominal exchange rate calculated by the Central Bank.

For the full year, the IPSA recorded an increase of 69.8%, with inflation at 80.2% and the dollar rising by 100%.

Although the average increase at 0 km in August was 9.6%, there are segments with different behavior.

The largest increase was seen in light commercial vehicles (excluding pickups), which saw a 12.8% increase, just above the cost of living for the month.

SUVs grew by 10%, small cars by 9.9% adjusted.

Pickups and midsize models were below the IPSA average at 9.2% and 5.5%, respectively.

This data comes from a comparison of official prices, although several models on the market incur additional charges. In practice, this connection remains because as the official lists increase, the surcharges also increase in the same proportion.

As of January 2023, the Argentine Automobile Sector Price Index (IPSA) has changed its calculation base to update the basket of vehicles included in it.

The new base includes the prices of 38 models, accounting for 80% of total patents in 2022 and 85% of light vehicle patents in the same year.

The index includes vehicles divided into 5 categories and their weights: small cars (35% of light vehicles), pickups (19%), SUVs (17%), midsize cars (8%) and light commercial vehicles (excluding pickups ). -oops) (6%).

Nation World News Desk
Nation World News Desk
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