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Sunday, March 26, 2023

extension of zero withholdings to incremental exports made official

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The Minister of Economy, Sergio Massabrought forward this extension of the incentive created in 2020 at the beginning of the year. “It is a way of rewarding investment, Argentine work, and effort,” said Massa.

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During the past year, 536,000 units were manufactured, between cars and utility vehicles, which marked an improvement of 23.5% compared to 2021, and the highest production in the last eight years, in a difficult context due to the lack of tires.

In addition, exports totaled 322,286 vehicles, with an increase of 24.3%.

“We envision for 2023 a minimum production scenario of 620,000 vehicles,” said Massa, who estimated that “370,000 of those cars produced in Argentina will go abroad.”

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For its part, the Association of Automotive Factories (Adefa) highlighted today that The extension of zero withholdings for incremental vehicle exports during 2023 will allow the sale of 70,000 additional units equivalent to some US$1.7 billion.

Source: Ambito

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