Banco Nación to launch low-interest credit for domestic vehicles

Banco Nación is developing a new financing line specifically for domestically produced vehicles to stimulate the automotive market. According to various manufacturers, the proposal aims to offer 60-month terms with a 25% interest rate, a portion of which may be absorbed by the Ministry of Economy.

The initiative follows a decline in vehicle registrations, which fell 12% year-on-year in October. Data from the Association of Automobile Dealers of the Argentine Republic (Acara) shows that between January and October, cumulative registrations dropped by 12.8%. Currently, imports account for 68% of the market, while domestic production represents 32%.