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Montevideo, March 1st 2024 - 20:46 UTC

 

 

Car manufacturing continues to grow in Argentina

Wednesday, September 6th 2023 - 11:06 UTC
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Argentina's automotive industry celebrated the production of the 20 Millionth unit last month, Galdeano said Argentina's automotive industry celebrated the production of the 20 Millionth unit last month, Galdeano said

Car manufacturing in Argentina grew year-on-year, according to a report released Tuesday by the Association of Automotive Manufacturers (Adefa), which showed production reached 408,486 units, 19.5% higher than the 341,788 units from the same period of 2022. Adefa also said 63,455 vehicles were built in August, 17.4% more than in the same month of 2022 and 28.8% above July's figures.

In the first eight months of 2023 with respect to the same period of 2022, sales of vehicles abroad grew by 7.2%. In August alone, exports were 0.7% higher than in July and 11.1% lower interannually. August's exports accounted for 45.5% of the month's production, Adefa also said. On the domestic front, wholesales to dealers in August were 2.0% lower than in July and 3.8% higher than in the same month of last year. Comparing 8 months of 2023 with respect to the same period of 2022, sales to dealers showed a growth of 11.8%.

Since 1951 when the industry started locally, a total of 20,041,506 vehicles have been assembled in the country.

“The sector managed to maintain the industrial rhythm in a challenging context, which we hope to sustain by working together with the government on certain operational aspects that are in the process of being solved,” Adefa President Martín Galdeano said.

He also admitted the “20 Million” unit could not be singled out but was undoubtedly produced last month. “In August, the automotive industry as a whole celebrated the production of the 20 Millionth unit among which cars, pickups, SUVs, and trucks and buses are included,” Galdeano stressed.

Between 1951 and 1958, production reached 63,313 units, nearly as many as in August 2023 alone.

Categories: Economy, Argentina.

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