It is no longer rare to see new high-end cars on the streets of Buenos Aires. As with their forefathers, the fancy but well-worn cars with license plates starting with a letter, there are now attractive 2023 models Audi, Mercedes Benz and BMW as well as new units Volvo, Alfa Romeo, Kia and Hyundai.
In fact, not all of them are 2023 models, as many units have been hoarded more than two years Stationed at Zaret Customs, unable to enter the country. Authorization came when customers were enabled to make payments dollar bill Without demanding currency from the dwindling reserves of the Central Bank.
The initiative was born not from the government but from one of the interested parties, the Chamber of Automotive Importers (CIDO, The chamber brings together automotive importers without factories in the country, and there converge a contingent from luxury brands such as BMW and Volvo, to Korean brands such as Hyundai and Kia. 13 brands of Chinese origin Led by Cherry and BAIC.
Chamber, led by dealer and importer hugo belcastro, presented the idea to Sergio Massa when he took office as Minister of Economy and within weeks it was implemented through the System of Imports (SIRA). CIDOA’s initiative was quickly adopted, in addition, by some of the companies that formed the Automotive Manufacturers Association. (ADEFA), As Volkswagen (for your Audi brand) and Mercedes Benz. In CIDOA they estimated that with dollar modality in cash, the import of about 2,000 units High end, since Nov.
“The one who stood out was Massa. He started with two or three other officials of the economy to work on this issue and what came out was an option that has been in place since November: When you make your SIRA request, if you “your own dollar”, those requests go out, If you ask for MULC, you get in line“, summed up one of the camera importers. MULC is single and exchange free market For which you are asked to buy dollars from the Central Bank at the Banco Nacional price (230 pesos).
An important fact to note is that many of the units entering the country in these months, with license plates equivalent to a new model, are 2020 or 2021 models.
“was in some cars 30 months The terminal is parked in Zarate, and the port collects its own parking fee. in dollars, so that the price of each unit increases as time goes on. But since there is still not a good offer in the Argentine market, the dealer You can ask for a price that the buyer is willing to pay.“, expressed one of the importers.
The cash dollar payment is not for 100% of the unit, as is a large portion of the dealer charged price. Goes to the state.
“Client deposits approx half final price In the bank account of the dealer or importer. What the client has to give in dollar bills yes or yes is all that the Central Bank will not ask: FOB value of the vehicle, plus freight plus insurance of the unit until it is deposited at the port, That’s what we call the CIF price,” said another importer, also affiliated with CIDOA. “From then on, you pay in dollars in pesos at the Banco Nacional quote.”
What part of the price is taken in pesos? Although the negotiation is between the dealership and the customer, an important part of the vehicle is the tariff and the various rates collected by the state, and for which the currency is the peso and the conversion rate. This is the official dollar.
“Collects between the state Duty (35% of the FOB value of the unit) statistics (3%), VAT advance and of Income tax At the time of nationalization of the unit, and then at the time of collection internal tax, which is 25% of the price in the first band and 53.8% of the price in the highest band. After that, the Eva and the dealer pays Gross Income while invoicing”, added the importer.
