"We don't take it as a warning": A car manufacturer launched its new pickup truck and criticized Luis Caputo over the price conflict.

The president of Stellantis ' Argentine subsidiary, Martín Zuppi, made his first public statements following the dispute between the automotive industry and the national government over increases in May's tariff lists. In the last week of April, after announcing a 3.5% increase in the tariff lists, Economy Minister Luis Caputo asserted that this "could undermine trust between consumers and the sector."

"If this were true, it would mark a change in the relationship of trust built with the industry . If that hard-to-build trust is broken, we will use our tools to defend consumers," Caputo told X, responding to a reporter. Caputo and the government's stance prompted the industry to submit a new list with increases of less than 2%.

I don't think so, Horacio. If it were true, it would be a shift in the relationship of trust built with this industry. And if that hard-won trust is broken, we will use our tools to defend consumers. https://t.co/buBvhlWIej

— totocaputo (@LuisCaputoAR) April 30, 2025

During an event held in Córdoba to present the Fiat Titano pickup truck, Zuppi spoke with the press and delved into the relationship between the government and the Argentine automotive industry. " We don't take it as a warning," Zuppi acknowledged regarding Caputo's message, adding: "It wasn't a comment we made and it had repercussions in the press, but we are clear about our direction and know our future strategy within the local market . That's how we will develop."

Emanuele Cappellano , president of Stellantis South America , took a similar position, stating that the company analyzes the market and costs every month to "define its policy." " We are relaxed; we don't participate in political debates; our daily work revolves around the industrial and commercial reality of the local market ," he commented.

"Obviously, we monitor each situation and try to understand the demands of each government, but our policy evaluates concrete data," concluded the COO of Stellantis South America. Zuppi also defended the increase, arguing that it was implemented "according to the company's needs due to cost modifications."

" We have many variables; it was nothing different from what we do every month when deciding our pricing policy ," said the head of Stellantis Argentina. The event was marked by the absence of government officials, despite being an industrial project that generated 1,800 jobs and injected $382 million into the Argentine economy. Zuppi dismissed the rumors, stating that this was due to "agenda issues."