Argentina's New Auto Sales Collapse in First Quarter, an Industrial Info Market Brief

Argentina's vehicle sales fell 49.5% in the first quarter of this year, according to the Association of Automobile Dealers of Argentina (ACARA). In the monthly comparison, March saw a drop of 3.1% from February. This was the first time in 17 years that March sales were lower than those of February. In total, 139,086 locally-produced and imported vehicles were sold in the first three months of the year, compared with 275,555 in the same three months of 2018.The automotive industry is experiencing severe difficulties in Argentina, with a number of staff being laid off. Official data shows the sector is running at just 25% of its potential capacity. The president of ACARA pointed to a lack of funding and increasing tax pressure as complicating factors for a sector "that employs more than 70,000 people directly."