The Association of Automobile Dealers of the Argentine Republic (ACARA) reported last Friday that the number of vehicles registered during August 2024 rose to 41,378 units, which represents an increase of 4.8% year-on-year, since in August 2023, 39,467 units had been registered. If the comparison is against July of this year, a decrease of 4.1% is observed since in the previous month 43,150 units had been registered.
Thus, the cumulative total for the eight months of the year shows a registration of 267,954 units, which is 16.1% less than in the same period of 2023, when 319,368 vehicles had been registered.
With this volume of transactions of more than 41,000 units, not only was there an improvement compared to 2023, but this month became the best August in the last five years. We would have to go back to 2019, when 44,405 units were registered, to find a higher figure.
However, it was higher than the 39,467 0km of August 2023. Also higher than the 38,342 of 2022, the 31,235 of 2021 and the 30,629 of 2020. In other words, it was higher than the entire Alberto Fernández administration.
The most striking fact from last month is how the number of model registrations evolved according to their origin.
For the most part, domestic exports show a decline compared to August 2023, while imported exports are growing strongly, with surprising percentages.
These are the nationally produced models that saw a decrease in registrations compared to August last year: Ford Ranger (-17.8%), Fiat Cronos (-52%), VW Amarok (-44%), Peugeot 208 (-0.6%), Chevrolet Tracker (-50.7%), Nissan Frontier (-30.7), Renault Sandero (-59.4%), Renault Logan (-45.4%), Renault Stepway (-61.1%) and Peugeot Partner (-54.1%).
The national models that grew compared to a year ago were Toyota Hilux (+18%), VW Taos (+13.5%), Toyota SW4 (+36.6%) and Peugeot 2008 (+29.3%).
However, there are very strong increases in imported models. The main ones are the following: VW Polo (+472%), Toyota Yaris (+63%), Toyota Corolla Cross +(55%), Jeep Renegade (+826%), VW Nivus (+642%), VW T-Cross (582%), Fiat Strada (+215%), Ford Maverick (+559%), Fiat Toro (+460%), Fiat Pulse (+869%), Jeep Compass (+281%), Honda HR-V (427%), Frod Bronco Sport (652%) and Ford Territory (+81%),
The explanation for this market turnaround is related to the change in the rules of the game. While last year there were severe restrictions on imports, the government of Javier Milei has opened up the economy.
It is clear that with the general level of taxes charged and a declining market, there are no significant import volumes, beyond the demands of consumers who continue to ask for imports to be opened when, in fact, they are already open.
However, there is a clear change in the commercial strategy of brands that are betting on increasing their supply of imported products.
What the numbers show is that the market’s recovery in recent months is due to the arrival of vehicles from abroad.
It should be noted that from the moment the import order is placed until the units arrive in the country, it can take from three to six months, depending on the origin. That is why this impact is being felt now, since imports opened at the beginning of the year.
Source: Ambito
