New car prices rose 81% in 2019 in Argentina
Feb, 28, 2020 Posted by Sylvia SchandertWeek 202010
According to the Association of Automobile Dealers of Argentina (ACARA), the prices of zero-kilometer cars in Argentina increased by more than 80% in 2019.
According to the entity, the strong increase is a resulto of the direct relationship between the unit’s costs and the exchange rate variation, since more than 70% of the vehicles sold are imported and those produced locally have the majority of their parts imported.
In view of this, Argentina’s Minister of Foreign Affairs, Felipe Solá, met with executives from Adefa (Association of Automotive Factories) and SMATA, a sector union, to promote automotive exports to new markets. Among the markets envisaged are Peru, Colombia, Ecuador and Central America.
Businessmen in the sector, on the other hand, asked for “interest rate review” and “emphasized exchange rate governance”. In this context, they indicated that “the automotive industry is working at a third of its capacity”.
The following graph, based on Adefa data, shows local trade and Argentine car exports in the period from January 2011 to January 2020
Source: Adefa
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