The Government will launch next week a program that will run until the end of the year intended to finance 30 fixed installments the purchase of televisions, air conditioners and cell phones, within the framework of an agreement with manufacturers, retail chains and supermarkets.
From the Secretary of Commerce they indicated to Télam that the program, prepared on the basis of a proposal from the Association of Argentine Terminal Electronics Factories (Afarte), is intended to promote consumption and will be a specific policy that will last until the end of the year .
This Sunday, the Minister of Economy, Serge Massasaid that the program will allow the purchase of televisions with 4K technology, air conditioners with greater energy efficiency and cell phones at 30 installments with an interest rate that is half the current rate.
“Surely, not this week, but next week, (the Secretary of) Commerce, the companies, the banks and we from the Ministry of Economy are going to be starting it up,” he said.
Sources from Afarte pointed out that details of the program thatand will take effect in the next few days and will include 50, 55 and 58-inch 4k technology TVs, energy efficiency A air conditioners and mid-range and low-end cell phones.
“The rate will be well below the market rate and is being managed by Commerce with the banks,” they added from the Association.
For its part, the Argentine Confederation of Medium-Sized Enterprises (CAME) expressed its support for the plan for access to electrical appliances in 30 fixed installments and indicated that it will ask the Government to extend it to small and medium-sized businesses.
The director of the commercial sector of the entity, Fabian Tarriosaid that from the Confederation they will advocate so that commercial SMEs “can also have the same possibilities that they are giving to large chains and supermarkets.”
“It is good that consumption is stimulated with a stimulus such as the one proposed by the Government jointly with television manufacturers and businesses,” Tarrío told Télam Radio.
For its part, Gustavo Brusadirector of Home Business at BGH, told Télam that “it is relevant to maintain an active consumption dynamic, which allows for the promotion of investments, the renewal of technology and the development of new projects. For this, long-term financing policies play a fundamental role, and drive sales”
This measure will allow the purchase of cell phones to be refinanced at a subsidized rate, an item that was eliminated from Now 12 in October 2020, and renews the possibility of financing in 30 installments, an option that was included in the Now 12 program until February of this year and then it was removed.
The Secretary of Commerce pointed out that the next program to be launched does not fit into the Now 12 plangiven that it will have a limited duration from its beginning and until the end of the year, and in principle it will not be renewed.
Until February of this year, Now 12 included the term of financing in 30 installments, but in that renewal this option was suppressed and the plans of 3, 6, 12, 18 and 24 installments were maintained.
At that time, it was explained that according to the billing and sales volume data, it had been detected that the financing in 24 installments had had a sustained increase in the participation of the program since its incorporation, while the 30 installment modality represented less than one point of the total billing of the program since its incorporation, which led to its elimination.
Meanwhile, cell phones were removed from the Now 12 program in October 2020 due to a “reallocation of resources.”
According to data from Afarte, in the first half of 2022 the electronics industry had a turnover of US$1,629 million and 5,375,742 cell phones, 1,369,857 televisions and 496,489 air conditioners were produced in Argentina.
In the same period, 4,223,723 cell phones were sold (72% mid-range, 21% low and 7% high), 1,051,773 televisions and 374,069 air conditioners.
96% of cell phones, air conditioners, microwaves, and electronics for your car that are marketed in Argentina are of national production.
In 2021, the electronics industry managed to recover production levels prior to the pandemic, with increases of up to 78% when compared to 2019; consumption, meanwhile, did not follow these increases and remained below the production variation percentages, especially in the areas of televisions and air conditioners, according to the Association.
