The Argentine auto industry is one of the world’s largest, employing more than 65,000 people and providing 9% of Argentina’s industrial gross production value. Annual production of 472,776 vehicles in 2016 and 472,158 in 2017 made it third among Latin America’s car markets, behind Mexico and Brazil but ahead of Venezuela and Colombia.
New passenger vehicle sales totaled 142,925 in first two months 2018, up 25.6% from 113,770 a year earlier, according to the Association of Automobile Manufacturers of Argentina (ADEFA). Those of heavy commercial vehicles increased by 20.4% to 5,115, up from 4,247. Light commercial vehicle sales totaled 38,977, up from 34,279, due to strong demand for models such as the Renault Sandero, the Toyota Hilux and the Volkswagen Golf.
The country’s production will be boosted by an agreement between Argentina and Brazil under which a bilateral auto pact would be extended by one year to 2020. Under the agreement, Brazil must purchase one million Argentine cars for every 1.5 million Brazilian cars that it exports to Argentina, with sales above that limit subject to 35% extra tax. Argentina and Mexico signed a four-year deal that enables for US$575 million in tax free trade over the first 12 months, rising to US$640 million in the fourth year.
Full material is published in the Mergent Industry Reports
Industry Reports Blog
Highlighting some of the latest industry analysis from our research desk
The Industry Reports are sold as a subscription throughout the United States, Canada, Japan, Australia and Europe. To request a full sample report please complete the the form here.
Blog Post Categories
Get updates on the latest industry news and trends via an RSS feed to your website