Registrations for new vehicles in Argentina fell 40% in October compared to the same month in 2013, according to the latest study by commercial sellers' group ACARA. The chamber revealed that 52,983 cars were registered over the past month, against 59,099 in September and 88,948 last October.
”October showed a good level of activity but much higher would have been reached if the vehicles already approved by the Procrear (accessible credit) plan had been registered,” the entity explained in a press statement.
Registrations for the first 10 months of the year total 614,634, down 27% in relation to the same period of 2013. The industry put 844,160 vehicles on the road during that timeframe, in what was a record year for the automotive sector.
Likewise auto production in the ten months reached 522.136, which represents a year on contraction of 23.7%, revealed Argentina's Association of Car Manufacturers.
Exports in ten months totaled 289.692 units, which was also down by 22.9% compared to the same period a year ago, while domestic sales to manufacturers' dealers reached 519.672 in ten months which is a 35% drop compared to the same period a year ago.