Argentina’s vehicle exports fell 15% in first quarter

Adefa, Argentina’s Vehicle Manufacturers Association, released the country’s vehicle production and export figures for March. They showed that vehicle production fell 26.7% relative to the previous month, reaching 19,164 units.  This was 34.4% down on year-ago levels. The sector’s exports were down 23.1% compared with February 2020, at 13,928 vehicles.  This is 33.9% below the volume registered in March 2019. In the first quarter, the sector produced 65,980 vehicles, which represented a 14% contraction in relation to the 76,692 units produced in the same period last year.  Exports for the first quarter stood at 40,734 vehicles – a 15% decrease compared with the first quarter of 2019.

“In the face of the health crisis caused by COVID-19, the industry and all of us who are part of it, mindful of protecting the health of employees and the community in general, have taken concrete actions to mitigate the effects of the pandemic, ratifying our firm commitment to adopt preventive measures to protect health,” explained Gabriel López, president of ADEFA.

In this context of responsibility and commitment, the total interruption of activity in the sector places the automotive industry, which had been facing a critical situation for some years and worsened significantly, in a position that generates concern throughout the value chain. Therefore, from the first day, several measures are being analyzed together with the government, the chain and other industrial entities, in search of mechanisms to mitigate the impact, prioritizing the protection of working capital and the most sensitive links to generate conditions so that, once the preventive and mandatory isolation measure is lifted, it is possible to resume normal activities without major obstacles.

The following chart shows Argentina’s local trade as well as exports since January 2011:

Source: Adefa

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