Stock of unregistered vehicles fell 15.7% from December peak, according to Acara

The number of light vehicles with a manufacturing or import certificate that have not yet been registered fell to 135,260 units at the end of August, according to a private report that the Association of Automobile Dealers of the Argentine Republic (Acara) distributed among its dealerships and to which La Nación had access. The figure represents a 15.7% drop from last year’s December peak, when the stock reached 160,511 units.

The data comes amid falling registrations. During August, 41,752 cars and light commercial vehicles were registered, 1.4% fewer than in July and 19.3% below the same month of 2025. In the first eight months of the year, 362,497 units were registered, a cumulative contraction of 13.9%, according to the same source.

What the Acara report shows about the stock

The private survey indicates that the stock of unregistered vehicles completed five consecutive months of decline. In March the system accumulated 146,340 units; since then the inventory has shrunk 7.6%, equivalent to 11,080 fewer vehicles. The August decrease compared with July was 1%, about 1,425 vehicles.

The secondary source attributes this trend to automakers and importers adjusting supply to the lower level of demand. According to the article, carmakers reduced production destined for the domestic market, moderated imports or managed deliveries to the commercial network. That reading corresponds to La Nación and not to an official confirmation.

The report also specifies that, on average, the available units represent three months of registrations, according to Acara’s calculation based on each brand’s sales during the last quarter. That average coexists with marked differences among companies.

The brands with the highest volume and those with the most months of coverage

Toyota led the survey with 22,446 unregistered vehicles. It was followed by Volkswagen, with 18,237; Chevrolet, with 17,189; and Ford, with 15,332. Among the four they concentrated 54.1% of the total inventory, always according to the report circulated by Acara.

Absolute quantities must be compared with each company’s commercial pace. Toyota has the largest volume, but its stock is equivalent to 3.1 months of its sales. Volkswagen reaches 3.3 months; Ford, 3.6; and Chevrolet, 4.4. The highest ratios correspond to BMW, with 5.1 months, and Chery, with five. Also above average are BYD, with 3.8 months; Kia, with 3.7; Ford, with 3.6; and BAIC, with 3.5. At the other end are Jeep, with 1.1 months; Fiat, with 1.8; and Peugeot, with 1.9.

During August, moreover, Hyundai increased its stock 53.8%; BYD, 23.6%; BMW, 22.3%; and Honda, 21.1%. The largest reductions corresponded to BAIC, with 17.3%; Chery, with 16.4%; Nissan, with 9.7%; and Ford, with 9%.

Composition of the inventory: imported and domestic

Of the 135,260 unregistered vehicles, 101,469 were imported and 33,791 were domestically produced. Units from abroad represented 75% of the stock. In monthly registrations, by contrast, imported vehicles had a 70% share, according to the same article.

The difference indicates that the weight of imported vehicles within the inventory is somewhat greater than in sales, in a market that rapidly expanded its offering of foreign models. Imported stock began to grow strongly during 2025 and came to exceed 100,000 units, while the volume of domestic vehicles shrank to nearly a third of that figure.

What changes in the Fiscal Innocence regime that the Government is pushing

In parallel, the Ministry of Economy reported that the Government will send Congress a bill to amend the Fiscal Innocence Law. The announcement was made by Minister Luis Caputo together with the Legal and Technical Secretary of the Presidency, María Ibarzabal Murphy, who held a press conference. In that context, tax specialists Sonia Becherman, Liban Kusa and Ricardo Paolina answered questions about the changes.

According to the official statement, the bill eliminates the conditions for entering the simplified sworn declaration regime. Today the law requires the taxpayer to simultaneously meet three conditions: annual income not exceeding one billion pesos, total assets not exceeding ten billion pesos and not qualifying as a Large Taxpayer under ARCA rules. The bill eliminates them and opens the regime to all resident individuals and undivided estates, with one exception regarding Large Taxpayers.

The official text clarifies that Large Taxpayers may join the simplified modality, which allows the tax authority to pre-settle their tax and lets them make payment more efficiently, but they do not enjoy the presumptions, liberating effects or other benefits provided by the law.

The second change modifies the threshold for the tax authority to rebut the taxpayer’s presumption of accuracy. Today the law establishes that if ARCA’s challenge results in an increase of 15% or more over what was declared, the presumption automatically falls. The bill introduces a minimum threshold: even if 15% is exceeded, the presumption is not broken if the nominal difference claimed does not reach the equivalent of 5% of the amount of evasion provided for in Art. 1 of the Tax Criminal Law. In concrete numbers, if the difference does not exceed five million pesos, the presumption is maintained.

Furthermore, if ARCA detects a significant discrepancy, the taxpayer may file an amended sworn declaration and settle the difference plus the corresponding interest within a period of up to 15 business days from being notified of the ex officio determination. The fourth change fully restores the presumption of accuracy and obliges ARCA to refund the contributions paid with interest within a period no greater than 45 business days from notification of the final resolution.

Practical impact: whom it affects and from when

Acara’s stock report has effects on dealerships, automakers and importers. The reduction in unregistered inventory suggests an adjustment of supply to the lower level of demand, but it does not allow talk of a vehicle shortage: in August 2025 there were 99,520 unregistered units, so the current volume exceeds that figure by 35,740 vehicles, 35.9%, according to the same source.

• Immediate effects: dealerships face a stock that, on average, is equivalent to three months of registrations, with differences ranging from 1.1 months at Jeep to 5.1 months at BMW. Brands with the greatest relative coverage are the most exposed to financial and storage costs.
• Conditioned effects: if demand continues to fall, the adjustment of production and imports could continue. The secondary source attributes the drop in stock to supply decisions, but offers no official data confirming that relationship.
• Still uncertain effects: the Fiscal Innocence bill has yet to be sent to Congress and no date for consideration was reported. Its changes to the presumption of accuracy and refund deadlines would affect taxpayers and ARCA, but there is no confirmation of passage.

What data is worth following

Acara’s next monthly report on unregistered stock will make it possible to verify whether the five-month decline holds or reverses. It is also worth following the evolution of August and September registrations, and the formal entry of the Fiscal Innocence bill into Congress, with its final text and the expected deadlines.