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Montevideo, December 2nd 2022 - 07:19 UTC

 

 

Car manufacturing in Argentina grows interannually

Thursday, May 5th 2022 - 19:47 UTC
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Production in April continued to be affected by foreign trade operations, GGaldeano said Production in April continued to be affected by foreign trade operations, GGaldeano said

Car manufacturing in Argentine recorded a substantial increase in April, according to the latest monthly report by the Association of Manufacturers (Adefa), making it the third consecutive month with a favorable output.

 A total of 43,826 vehicles were produced in April, 49.5% more than in the same month of 2021 when only 29,315 were registered. So far in 2022, Argentina has already built 148,884 units, against 118,592 in the same period last year, which represents a 25.5% growth.

In addition, 27,431 exports were recorded from domestic plants, an increase of 73.1%compared to the same month last year, when 15,848 cars were shipped abroad.

With April's operations, 81,376 Argentine cars were exported in 2022, while between January and April of 2021 only 65,221 vehicles were shipped abroad. Figures are 24.8% this year.

Adefa President Martín Galdeano pointed out that the main variables of the automotive industry show dissimilar behaviors. “Although the data are positive, production in April continued to be affected by foreign trade operations, global logistics problems, and the shortage of semiconductors,” he explained.

However, Galdeano warned that Argentine Central Bank's (BCRA) Communication A 7466, which limits access to US dollars will have a negative impact on the sector. The restriction harms the industry when importing parts for the manufacture of cars sold abroad.

Many entities affected by the measure have submitted a note to BCRA President Miguel Pesce explaining their concerns.

Categories: Economy, Argentina.

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