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Montevideo, March 28th 2023 - 00:05 UTC



Argentine carmakers report inter-annual progress

Friday, November 4th 2022 - 10:15 UTC
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Progress was achieved despite the shortage of inputs Progress was achieved despite the shortage of inputs

Despite the lack of auto parts and other foreign inputs due to government restrictions aimed at keeping US dollars within the Central Bank's reserves, Argentina's carmaking industry grew 27.8% year-on-year in October, it was reported in Buenos Aires.

According to the Association of Automotive Manufacturers (ADEFA) report on production, exports, and wholesale sales released Thursday, vehicle production amounted to 52,415 units, 0.4% more than in September, in addition to substantial yoy improvements.

In October, domestic vehicle production amounted to 52,415 units, 0.4% more than in September and 27.8% higher than in the same month of last year. Thus, in the accumulated period, the sector accounted for 446,396 units produced (passenger and utility vehicles), which marked an increase of 28.1% compared to the 348,414 units produced in the same period of 2021.

Regarding exports, 37,326 vehicles were sold abroad, 5.5% more than in the previous month, and 43.9% above the same month of 2021.

In the accumulated ten months of 2022, the sector exported 268,182 units, a 29.5% increase compared to the same period of last year when 207,159 units were delivered.

Regarding wholesale sales, the automotive sector sold 33,087 units to the domestic dealer network in October, 4.4% below September's performance, but 30.8% above the same month last year.

Thus, between January and October, wholesale sales (to dealers) amounted to 307,528 vehicles, i.e. 12.3 % more compared to the same period of 2021 when 273,855 vehicles were sold.

This performance was achieved despite many plants needing to slow down or halt production due to the lack of imported autoparts and also of tires manufactured in Argentina, where production was stopped due to a labor conflict

Categories: Economy, Investments, Argentina.
Tags: Car Industry.

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