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Car sales in Argentina soar 43% in 2010; exports increase 38%, mostly to Brazil

Tuesday, January 11th 2011 - 22:03 UTC
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Brazil is the main market for Argentine manufactured cars Brazil is the main market for Argentine manufactured cars

Total dealership car sales in Argentina rose by 43% year-on-year in 2010, the country's automobile manufacturers association Adefa said. This included both locally-produced cars and imports.

The growth in car sales came in the midst of steep economic growth, which the government estimated to be around 9% last year. The country also witnessed inflation, which was estimated by economists at an annual rate of around 25%.

Vehicle exports from Argentina increased by 38.9% compared with 2009 levels, up to 447,953 units. Most of the country's automotive exports go to Brazil.

With increased demand from the domestic and export markets, vehicle production in the country increased 41.2% from a year earlier to 724,023 units - a new production record.

The automotive industry's growth rate is forecast to slow down in 2011, but vehicle manufacturers still expect a new record. The association has forecast a 12% rise in production and exports this year, while domestic sales are expected to improve by 5-6%.

Categories: Economy, Argentina.
Tags: Argentina, cars.

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