MercoPress. South Atlantic News Agency

Argentina May auto production increases 14.8% over April

As in the rest of the world, the auto industry is a barometer of recovery

Argentine auto production plunged 23.6% in May from the same month a year ago, the Argentine Automobile Manufacturers Association, or Adefa, reported Wednesday. But production rose 14.8% on the month, indicating the industry's bad declines may be starting to level off a bit.

Car makers produced 42,783 cars in May, compared with 56,019 a year earlier.

Year-on-year Argentine car exports also fell in May, declining 10.9% to 26,344 from 29,556 a year earlier.

As happened with production, however, month-on-month exports rose, climbing 12.8% from April. Sales to car dealerships fell 31% on the year to 40,872 units, versus 59,227 a year ago. Monthly sales rose 3.4% from April.

Car production last year marked a historic record of 597.086 units.