Buenos Aires Times

economy ECONOMIC INDICATORS

Car sales in Argentina fell 34.7% in September year-on-year

Industry slump after record first quarter this year; accumulated sales for the first nine months of the year now down 2.2%.

Tuesday 2 October, 2018
Car sales in Argentina fell 34.7% in September year-on-year.
Car sales in Argentina fell 34.7% in September year-on-year. Foto:FILE

More Economy News

Sales of new vehicles collapsed 34.7 percent in September year-on-year, a third month of decline, the Association of Automotive Dealers (ACARA) reported Monday.

Accumulated sales for the first nine months of the year now amount to 686,089 vehicles, aided by record numbers registered in the first quarter. Given the sharp fall in activity of late, the accumulated year-on-year comparison has now turned negative, minus 2.2 percent, for the first time this year.

"The difficult scenario that we have been observing is becoming more complex. The financial turbulence that has slown down economic activity in general, and our activity in particular, means that we had a very strong year-on-year fall in September," explained ACARA President Dante Álvarez, in a statement.

He said that "if in the last quarter we continue with these levels of activity we will end up in 2018 below what [we sold] in 2017," when a total of 901,017 vehicles were sold, including cars as well as light and heavy commercial vehicles.

The automobile industry was one of the engines of Argentina's economy in 2017.

- AFP

Poll

Op-Ed

Top Stories

  1. 1Standard and Poor's cuts Argentina debt ratingStandard and Poor's cuts Argentina debt rating
  2. 2Odebrecht: Investigations into business elite in Argentina drag on
  3. 3Ex Kirchner financier admits to handling USD$800k in kick-backs
  4. 4Honours even: Boca and River draw 2-2 in first leg of Libertadores final
  5. 5Argentina’s richest 10% control more wealth than 60% of the country
  6. 6ARA San Juan: Relatives of missing officers call on Ocean Infinity to search new site
  7. 7Cuts and economic crisis weigh heavy on Argentina's poorest
  8. 8US trial to tell epic tale of Mexican drug lord "El Chapo"
  9. 9‘It’s going to be very difficult for major legislation to be enacted’
  10. 10Will the real Mauricio Macri please stand up?