Buenos Aires Times

economy ECONOMIC INDICATORS

Sales of new cars slumped 45.9% in November year-on-year

ACARA records fifth consecutive month of decline, as new registrations fall dramatically.

Tuesday 4 December, 2018
Porteños walk past a car salesroom in Buenos Aires.
Porteños walk past a car salesroom in Buenos Aires. Foto:NA/DANIEL VIDAS

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Sale of new vehicles in Argentina collapsed 45.9 percent in November compared to the same month the previous year, the Association of Automobile Dealers of Argentina (ACARA) reported Monday.

The group said it was the fifth consecutive month of decline and the biggest fall since 2002.

In total, 39,565 new vehicles were registered in November, an 18.5-percent decline on October when 48,571 units were patented.

Cumulative sales for the first 11 months of the year so far amount to 774,571 vehicles, a fall of 9.2 percent in the comparison with the same period last year, according to ACARA. Those numbers were boosted by first semester of record sales.

"This year, which has been very complex and challenging, will bring a level of patent protection of 800,000 units. The expectation now is that activity will start again in  2019," said Dante Álvarez, ACARA's president, in a statement.

The automobile industry was a key engine of economic growth in 2017, yet sales have collapsed since the depreciation of the peso and subsequent recession.

Sales of new motorcycles fell by 54 percent in November in the monthly year-on-year comparison, totalling 30,700 units, ACARA added. 

- TIMES/AFP/NA

 

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