Cars increased more than 70% in 2022 and are more expensive in blue

However, the values ​​of the vehicles showed, throughout the past year, a calmer behavior than imagined.

If the most accessible models are taken, the official lists show an average increase of around 70%. This increase is below the estimated inflation for the year, which will be close to 100%.

It is true that this final number was achieved “by force”. During the first nine months, the rate of increase had been accompanying the cost of living index. From that moment on, with the arrival of Sergio Massa at the Ministry of Economy, it was “suggested” to the automakers to soften the adjustments and an update closer to 3% or 4% was recommended for the last quarter, while inflation moved by above 6%.

Reluctantly, that request was fulfilled in several companies and allowed to close with a more encouraging number.

In any case, what must be taken into account is that this data is not representative since, due to the problem of more demand than supply, the market is managed with overprices. There are few models that can be obtained based on the list price, which applies only to savings plans. The norm is that a higher value is paid that varies according to each 0 km.

imported

This is seen more clearly in the higher-end and imported cars that, in most cases, are sold at the value of blue dollars.

In these segments, price adjustments were above 70% of the most economical vehicles. It must be taken into account that, in any case, the premium is adjusted at the rate that the official lists and the availability of each model do.

When talking about cheap models, it is good to remember that the cheapest cost above $3,000,000, with a good bunch located in the $3,500,000 range. In other words, the price of the most accessible 0 km on the market closed the year in the order of $10,000 at the blue value.

During 2022, the informal exchange rate increased by 66%. This puts it below the increase in the price of cars. That is why most of the models that are sold in pesos have become more expensive in dollars over the last year. The rest are sold in “green” bills.

Although the market could have been higher than 407,000 patented units, it would not be enough to change the trend. It is true that it grew compared to 2021, but that year had been bad because it was getting out of the worst part of the pandemic, in addition to the restrictions that already existed to import. The current volume of the market is low, as admitted by the companies. In 2013 and 2017, historical peaks were reached with more than 900,000 cars sold, although it is estimated that a logical volume for Argentina would be between 600,000 and 700,000 vehicles per year.

Chili

For example, in Chile, more than 0 km were sold last year than in Argentina -just over 410,000 units- with less than half the population. If it is adjusted by the number of inhabitants, it would be equivalent to 960,000 the 0 km of Argentina.

The main factor to explain this phenomenon has to do not only with car prices but also with the purchasing power of wages. In Argentina today more than 43 average salaries are needed to buy a car in the small segment. This ratio is the highest in recent years. You have to go back to the 2002 crisis to find similar numbers.

This problem, added to the lack of credit, means that the market cannot recover reasonable levels. This is evidenced in the profile of operations. The proportion of higher range vehicles that leave greater profitability is growing and that of the cheapest 0 km falls, which, as a consequence, has been reducing its offer. The data that reaffirms this trend is that, this 2022, for the second consecutive year, more motorcycles were sold than cars in the country. A fact that shows that the middle-class sectors can no longer access a four-wheeled vehicle -which also incurs maintenance costs that do not stop growing- and must aim for two-wheelers to get around.