The worst January of the last 20 years: what were the 10 best-selling cars in the first month of 2024

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January is historically the best month of the year regarding the patenting of 0km cars in Argentina. But 2024 will be remembered as one of the worst and you have to go back 20 years to find an inferior one.

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The lack of updated price lists, pending changes to the internal tax, also known as the “luxury tax”, meant that the factories did not invoice the dealers and the dealers had no references for selling.

The first result appears with the January patents, which mark a 33% drop compared to the same month last year, as published by the Association of Automobile Dealers of the Argentine Republic (ACARA).

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The 33,727 units registered last month are even slightly more than expected from the January average: at one point the decline was 38% and the projection was 30,000 vehicles.

This poor result is also the product of the doubts generated by the current economic situation of the country, the change of government and the first measures. “Uncertainty delays car purchases,” he said Clarion Martín Galdeano, president of Ford Argentina.

In January the Volkswagen Amarok dethroned the Toyota Hilux among pick-ups.

Historically, January reflects a high number of patents because the model year change occurs. AS many deals closed in December end up being booked in January.

To find a lower January than 2024 in terms of registrations you have to go back 20 years, to 2004. At the beginning of the year, 32,406 vehicles were registered. The cover of the ACARA report at the time was titled “The crisis of the automotive market” (sic), referring to the exit that the sector had shown after the 2001 crisis.

Chronology of an announced January

10 years after the implementation of the luxury tax, which established two ladders to be applied to passenger vehiclesDecember and January highlighted a lack of definition which generated further uncertainty in a very complex economic context.

For last December, the minimum tax base of the first scale should have been paid by models that had a retail price above 14.7 million pesos.

Thus were born the versions of the popular Fiat Cronos and Peugeot 208, the two best-selling cars in the country and of national production, which were covered by the internal tax and which brought their list prices to almost 20 million pesos.

Jeep entered the top ten in January.Jeep entered the top ten in January.

But the increases did not fully reflect the December devaluation. Another increase was therefore expected for January but never arrived because the luxury tax remained unchanged. If they had been done, all 0 km would be covered by this tax.

Javier Milei’s government finally announced the tax changes late last week. After rumors about reducing these taxes, there has finally been an update to the tax minimums.

Now the first stop will be for vehicles that have a retail value of over 28 million pesos. The rate has not been changed and will continue to be 20% but will have an impact on the final price of 25%.

The second scale, which covered vehicles over 32 million pesos, goes to 61 million pesos. Not even the rate has been changed, which for the second scale will continue to be 35% with a final impact on the retail value of 53%.

The initial result was price increases for all low-end cars and some specific decreases in mid-segment vehicles.

This led to the worst January in 0km car sales in the last 20 years in Argentina, with some results to be analysed.

The best-selling brand last month was Fiat, with 5,199 units, followed by Volkswagen (4,615) and Toyota (4,425), an inverted podium compared to how the 2023 patents ended.

Followed by Peugeot (3,823), Renault (3,599), Ford (3,187), Chevrolet (2,219) and Jeep (1,329). The presence of the 4×4 brand in eighth position should be underlined, since it is the only one that does not produce in the country in top ten January which is closed by Citroën (1,301) and Nissan (1,071).

The best-selling models in January 2024 were.

  1. Fiat Crono 4,750
  2. Peugeot 208 3,473
  3. Volkswagen Amarok 2,179
  4. Toyota Hilux2077
  5. 2032 Ford Ranger
  6. Chevrolet Tracker 1,362
  7. Volkswagen Tao 1,333
  8. Renault Kangoo II 966
  9. Toyota Yaris 827
  10. Jeep Renegade 786

Source: Clarin

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