Background on Luis Caputo and His Role
Luis Caputo, the Minister of Economy in Argentina, has been a central figure in recent discussions surrounding auto prices. His public warning to a terminal company not to touch its May lists has added to the ongoing price controversy.
April Auto Sales Surge
Despite the controversy, Argentina’s automotive market demonstrated strong momentum in April. According to the Association of Automobile Concessionaires (ACARA), 54,001 vehicles were patented during the month, marking a 63.9% increase compared to April of 2024.
This performance represents the best April since 2018, when 76,554 units were patented. Back in 2018, the sector aimed for over 900,000 sales but fell short at around 800,000 due to Argentina’s economic downturn.
Following 414,000 sales in 2024 (a 7.9% decrease from 2023), automakers anticipated a market of approximately 400,000 units, with an optimistic estimate of 500,000. After revising their projections in the first two months, they now target 600,000 patented vehicles, which would be the best market performance since 2018 (460,000 in 2019).
First Quarter Performance
From January to April 2025, the market has accumulated 216,458 zero-kilometer sales, an 83.9% increase compared to the same period in 2024.
In January 2024, the market was nearly stagnant due to a currency adjustment in December 2023 and delays in updating the internal tax on automobiles. However, in 2025, the market has maintained its upward trajectory since the second half of 2024, fueled by lower interest rates (boosting financed sales), a deceleration in inflation, macroeconomic stability, and the reduction or elimination of burdensome taxes implemented by the government in recent months.
Stellantis and Ford’s Price Strategies
Stellantis clarified that it did not alter its lists and only reviews them after the first week of each month. Regarding Ford’s prices, the company plans to maintain its April list for May.
Key Questions and Answers
- Who is Luis Caputo and why is he relevant? Luis Caputo is Argentina’s Minister of Economy. His recent public warning to a terminal company regarding its May lists has added fuel to the ongoing price controversy in Argentina’s auto market.
- What were April’s auto sales figures in Argentina? A total of 54,001 vehicles were patented in April, marking a 63.9% increase compared to the same period in 2024.
- How did the first four months of 2025 compare to 2024? The market saw an 83.9% increase in zero-kilometer sales from January to April 2025 compared to the same period in 2024.
- What factors have contributed to the automotive market’s growth? Lower interest rates, reduced inflation, macroeconomic stability, and tax relief measures implemented by the Argentine government have all played a role in the market’s upward trajectory.
- What are Stellantis and Ford’s price strategies? Stellantis does not change its lists frequently, only reviewing them after the first week of each month. Ford plans to maintain its April price list for May.
