Monday, January 13, 2014

Don't drive me Argentina

It should be easier being verde down Argentine way;
The recently approved tax hikes that levy a rate of 30 percent for cars starting at 170,000 pesos [$25,000]and 50 percent for those above the 210,000 [$31,000]-peso mark (dealership values) chiefly affect the premium segment as well as the medium segment’s top range.
In order to get an idea of how the modifications will reverberate across the premium segment, the Herald spoke with BMW Group Argentina CEO Alejandro Echegaray, who said that “it will take the first few months to adapt. We will see how the market reacts, but sales will surely decrease.”
So might tax revenue as Argentines buy fewer cars.

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