Under pressure from Luis Caputo, some automakers are halting the price increases planned for May.

The controversy over new car prices continues to dictate the sector's pulse. Following Economy Minister Luis Caputo 's public statement questioning some brands' decision to increase their prices following the end of the restrictions, at least five automakers have already defined their pricing policies for May . Two of them, Nissan and Ford , opted to maintain April prices, a sign of restraint given the inflationary and political context.

In contrast, Toyota and General Motors applied an average adjustment of 1.5% , while Volkswagen announced a linear increase of 1.3% . The rest of the manufacturers, such as Renault and Stellantis , have not yet announced their decision, but could make a decision in the coming hours, aware of the tension with the Executive Branch.

The impact of Caputo 's message was immediate. Although nominally directed at Stellantis Argentina , industry insiders acknowledge that it was a general warning to the entire industry , intended to send a clear signal to consumers .

"If the Minister wanted, he could have made a phone call. He chose to make it public because he wanted everyone to see it," acknowledged one businessman in the sector. According to his analysis, the measure was correct : the government eliminated double VAT and granted significant tax benefits to the sector, so it wasn't appropriate to implement immediate increases without real justification.

The automotive sector points out that, unlike other sectors, car manufacturers have been prudent with their lists. Even during the months of highest inflation, car prices grew below the general index , something they attribute to the public visibility of their prices.

"We are one of the few industries that publishes its lists, and that exposes us. But it also shows that we are helping to contain inflation," explained one of the terminals. They assert that, despite devaluations and exchange rate adjustments, the increases were always staggered and coordinated with the government.

In addition to price controls, the automotive sector has an open agenda with the Ministry of Economy . One of the key points is the renewal of the exemption regime for incremental exports , which is key to maintaining the sector's competitiveness.

Currently, automakers pay a 2.5% withholding tax on the first 137,000 units exported per year. The rest are exempt. In 2024, more than 314,000 vehicles were exported, and the new target is 350,000 units . Therefore, maintaining this exemption is vital for Argentine cars to remain competitive in international markets.

If the benefit is renewed, more than 210,000 units could be exported without taxes. Without this measure, all production destined for foreign markets would again pay export duties , which would directly impact costs and international contracts signed by automakers.

Industry insiders are confident that the government will maintain its commitment. Milei's industrial policy, based on fiscal order and responsible openness to the world , requires productive support. Within this framework, automotive manufacturers are seen as key players in economic recovery , provided they do not deviate from the path set by the Ministry.