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Montevideo, May 20th 2022 - 17:17 UTC

 

 

Argentine automotive industry shows signs of recovery

Monday, December 6th 2021 - 08:49 UTC
Full article
ADEFA's Galdeano explained that “70% of what was produced was exported.” ADEFA's Galdeano explained that “70% of what was produced was exported.”

The Argentine Association of Automotive Factories (ADEFA) has reported that November 2021 had shown a 70% increase in exports and a growth of around 43% in the total number of units delivered.

Despite these figures, the domestic market is still losing ground, it was announced.

Car production rose 42.7% year-on-year in November 2021 with 46,490 units, which is also 13.4% above October's. Exports soared 182.6% yoy, reaching 32,513 vehicles. November's exports data of 32,513 units represent a 25.3% increase compared to October. Nevertheless, the delivery of new vehicles to the domestic market shrank an additional 11.5% yoy.

In the first 11 months of 2021, Argentine car manufacturing plants have put out a total 394,904 units, 74% more than in the same period of 2020.

According to Adefa, 239,672 vehicles have been exported so far this year, a 98.6% improvement when compared to the same period of 2020 (120,691 units).

ADEFA Chairman Martín Galdeano explained that ”70% of what was produced was exported and that allows us to consolidate ourselves as the first exporting industrial sector and the second exporting complex in the country, representing 28.3% of Argentina's manufacturing exports of industrial origin (MOI).“

”Together with the value chain, we continue working on the development and implementation of proposals, of policies that help to ensure that we have an industry of scale, competitive, that continues to invest, that exports more and to new markets and that enhances its already prominent economic multiplier effect,“ he went on as he insisted on the importance of the Investment Promotion Law be passed ”before the end of the year.”

Regard domestic sales, 27,811 units were made available to the local market, a 10% increase against October 2121 deliveries, but 11.5% less compared to the same month last year. Thus, local dealers have been supplied with 301,666 units, 10.2% above the same period in 2020, when 273,795 vehicles were marketed.

Categories: Investments, Argentina.

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