MercoPress. South Atlantic News Agency
Grim outlook for Argentine industry according to auto industry and Moody's
An estimated 12.000 workers from the auto industry and auto-parts manufacturing have been sent home on anticipated vacations or because of lesser working days, according to the mechanics union SMATA, a figure consistent with the level of domestic market sales and exports. However the industry leaders and unions have warned that the situation is set to worsen in coming months. Read full article
Comments
Disclaimer & comment rulesThe price of economic incompetence!!!!
May 08th, 2014 - 08:59 am - Link - Report abuse 0if you take decisions based on politics and not economics this is where you will end up.
Mmmmm I wonder how that Ford expansion is going?
May 08th, 2014 - 09:18 am - Link - Report abuse 0The people deserve a lot better, that the deluded dreams of a self styled twit..
May 08th, 2014 - 10:33 am - Link - Report abuse 0long live Argentina, and down with CFK, send her to the KFC..LOLOL
NO!
May 08th, 2014 - 11:36 am - Link - Report abuse 0This cannot be right, according to TMBOA “she listens to everybody” and they haven't told her what a raving lunatic she is, so she can't be, can she?
Ha, ha, ha.
Subsidised loans are not going to fix this problem. Argentina is going to be very lucky to hold onto these mfgs over the long term.
May 08th, 2014 - 12:14 pm - Link - Report abuse 0For the life of me I can see why they would stay, factories are very easily expanded in countries that don't have all these problems.
My bet is they are looking to pack up, slowly wind down, don't let anyone know what you are doing, then slip out quietly.
Time will tell.
“For the life of me I can see why they would stay”
May 08th, 2014 - 01:15 pm - Link - Report abuse 0They are just keeping their options open. It seems sensible strategy to me. On a continent of 400 million people that has a reasonable growth rate and varying levels of protectionism it makes sense to maintain some productive capacity within.
These industries are more of a problem for the governments. An unproductive, protected industry is an albatross around the neck for the government. They are always under popular domestic pressure to continue to protect the jobs. The protection pushes investment and productivity lower. It is a downward spiral.
The auto makers have seen it all before.
Ford are pulling out of Venezuela. Fact.
May 08th, 2014 - 03:01 pm - Link - Report abuse 0The Japanese are also having major production problems there, due lack of parts. Yes, the automotive manufacturers can't build cars due to lack of spare parts!
Ridiculous situation.
Argentina, watch and learn.
Watch and learn.
Kerchner will leave Argyland in a desperate state. Who will be left to pick up the pieces?
May 08th, 2014 - 03:42 pm - Link - Report abuse 0Nobody will want to pick the time bomb before it explodes in their faces.
May 08th, 2014 - 04:28 pm - Link - Report abuse 0What does INDEC say?
May 08th, 2014 - 09:39 pm - Link - Report abuse 0http://www.businessinsider.com/most-miserable-places-in-the-world-2014-4
May 09th, 2014 - 12:05 am - Link - Report abuse 0Here's what the Cato Institute says
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