IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 18 May 2016 | Removal date: open ended

Local sourcing

On 18 May 2016, the Argentine government owned Bank, Banco Provincia announced its initiative to launch a credit line aimed at financing the purchasing of new automobiles by Argentinians. This credit line exclusively refers to cars manufactured in plants in Argentina - as this credit line is launched under the Pro. Cre. Auto Program which provides consumers with subsidized financing for purchases of new, domestically manufactured cars.

The maximal sum that individual loan beneficiaries can acquire under this credit line (specifically for the purchase of a Volkswagen automobile) is 300.000 Argentine Pesos (USD 19.671). Furthermore, the loans will be distributed for up to 36 months at an interest rate of 25%.

On the same day the Banco Provincia announced that Volkswagen is its main strategic partner in the launch of this credit line. On 01 June 2016, Banco Provincia announced that it will introduce Fiat and Ford models as part of the line of automobiles that Argentinians can purchase under the credit line.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc

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