According to the Argentine Automobile Manufacturers Association (ADEFA), Argentina produced a total of 29,632 passenger cars and light commercial vehicles in February, up 41.1 percent from 20,998 units in January.
The recent final elimination of the internal tax, integrated into the labor reform, confirms a path of transformation that "drives the growth and sustainability of the industry." Said ADEFA President Rodrigo Perez Graziano.
Month-on-month ADEFA data for February also shows that exports increased by 63.9 percent to 15,991 units, while domestic sales increased by 5.7 percent to 36,292 units, of which only 9,706 units were produced in Argentina.
Although the February data looks better than a month earlier, a year-on-year comparison shows that production fell by 30.1 percent from a year earlier, while exports decreased by 28.9 percent. On an annualized basis, sales in the domestic market fell by 20.4 percent.
Graziano stated that the monthly data continues to show typical "seasonal trends for the sector." He also noted that more accurate forecasts for the year will become possible only after the end of the first quarter.
Graziano said it is important to continue to work steadily with the entire value chain and the government on the sector's agenda, promoting structural improvements such as fiscal measures (national, provincial and municipal) that will maintain continued competitiveness.
