The Car and Truck Fleet and Leasing Management Magazine

Argentina Automotive Makers Look to Increase Output by 20%

June 29, 2017

Graphic courtesy of istockphoto.com
Graphic courtesy of istockphoto.com

The Argentinian auto industry is expecting production to increase later in the year, with a boost in the country's automotive sector, despite imports into the country being negatively impacted by neighboring Brazil's economic crisis

Automotive producers in Argentina could increase their combined 2017 output by 20% compared to last year, according to S&P Global Platts

In March, Argentina's government announced a plan to boost the country's automotive sector and generate output of more than 1 million units by 2023, according to S&P Global Platts.

Last year, the automotive industry in Argentina grew at 4% from January through April 2016.

According to data released by the statistical office in April 2016, industrial production contracted a sharp 6.7% on an annual basis. Also, in May 2016, massive layoffs and record-high inflation rates resulted in Argentinian and consumer confidence being at the lowest level in nearly two years.

However, the initiative announced in March this year includes investments of $5 billion over the next two years, the creation of 30,000 jobs, and a 35% increase in national auto parts output, according to S&P Global Platts.

Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Up Next

More From The World's Largest Fleet Publisher