ARGENTINA LUXURY CAR TAX PLAYS HAVOC WITH LOCAL AUTO MARKET
March 15th, 2014
A NEW tax in Argentina is wreaking havoc for dealerships and consumers, and adding to the woes of manufacturers already grappling with onerous trade restrictions, including a new proposal to limit auto parts imports, part of the Peronist government’s protectionist economic policy. After Argentines bought nearly one million new cars in 2013 - a record - sales have plummeted since the two-tier tax, having secured congressional approval, was levied on January 1 this year. With the government hemorrhaging hard currency reserves, the move was largely designed to ...
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