The Ministry of Economy and Finance (MEF) made adjustments in the basic criteria for participation in investment promotion projects.
starting this monday electric passenger cars will have to have a CIF value (cost of the product during customs clearance that includes: cost of merchandise in the country of origin, insurance and freight to the port of destination) of up to US$ 27,000 to receive tax benefitswhile the last adjustment for investment projects contemplated vehicles whose CIF price did not exceed US$ 60,000.
After the announcement, the manager of the Uruguayan Automotive Trade Association (ACAU), Ignacio Paz, told El Observador that this decision will impact the sales of electric cars: “We have been multiplying by two every year, if we keep it up we are going to start dividing by two“, explained in an interview with Coffee & Business.
In addition, he said that currently 70% of the sales of this type of vehicle are the product of investments framed in the COMAP (Commission for the Application of the Investment Law).
According to the news site specialized in the automotive sector, Autoblog, this resolution means that more than half of the electrical products for passengers that were being acquired through this modality are left out of the benefits.
The news site for the automotive sector maintains that with this new measure only a few passenger car models qualify for COMAP benefitsand some examples are: Bestune NAT, JAC e-S1 or Letin Mengo, and quads like the XEV YOYO.
On the contrary, there is an extensive list of 0km electric models that as of today fall outside the COMAP criteria, such as: BYD New e2, BYD Yuan Plus EV, BYD Han EV, BYD Tang EV, Hyundai Kona Electric, Maxus Euniq 6, Mercedes-Benz EQA, Mercedes-Benz EQB, MINI Cooper SE Hatch 3 Door, Nissan Leaf, Peugeot e-2008, Renault ZOE E-Tech, and Volkswagen e-up!.
The general manager of ACAU, Ignacio Paz, confirmed to El Observador that the association he directs was not consulted by the Ministry before making this definition.
To conclude, Paz explained that andste change of criteria arose on December 1 with entry into force on the 18th, so —in a sector in which planning the strategies to follow takes several months—did not give time to adjust the objectives of the different companies.
Duesome companies demanded that the government reassess the measure since they bought units at a CIF price lower than the one previously set (U$S 60,000) to be covered within COMAPand now their products are excluded from the purchase benefits. And according to Paz, it is being reassessed.
Utility vehicles, trucks and vans
In the modification of Decree No. 268/020, utility vehicles, pickup trucks and vans (between US$ 30,000 and US$ 60,000 in the case of electric vehicles) that meet the definition of COMAP criteria.
