MercoPress. South Atlantic News Agency

Argentina's car manufacturing posts record in April

Argentina's car manufacturing industry posted an increase in production of 31.5% in April compared to the same month a year ago. The total number of units manufactured in April was 54.622, according to ADEFA car manufacturer's organization.

This means that in the first four months of the year production reached 179.078 which is 28.9% higher than a year ago. The number is the highest for April in the last fifteen years overtaking April 1998 by 10.965 units. Exports in April increased 24% over March and 62.4% over the same month a year ago. According to ADEFA a total of 49,591 vehicles were manufactured in March bringing the total in the first three months of the year to 124,458 units. Car manufacturing has been one of the main pillars of the vigorous recovery of the Argentine economy in the last five years. After contracting 10.9% in 2002 Argentina's GDP expanded 8.7% in 2003; 9% in 2004; 9.2% in 2005; 8.5% in 2006 and 8.7% last year.