Argentina’s vehicle production grew by 18.1 per cent in the first nine months of this year compared to the same period last year, said the country’s Ministry of Economy.

“According to the monthly report of the Automobile Manufacturers Association (Adefa), the automotive industry has produced 465,236 vehicles so far in 2023, thus surpassing the figure produced between January and September 2022 (393,981 units),” said the Economy Ministry.

“When we talk about a country that has everything it needs to develop, we mean just that: an industry that produces, that seeks local integration and import substitution, that exports and creates jobs,” said the Minister of Industry and Productive Development, Jose Ignacio de Mendiguren.

In this regard, he recalled that “the automotive industry is a strategically important sector and a concrete example of what Argentina can do with the productive-competitive development model promoted by Economy Minister Sergio Massa.”

In September, 56,750 units were produced, the highest for this month since 2014, and 8.7 per cent higher than in September 2022.

On the other hand, commercial vehicle production continues to break records, up 4.4 per cent year-on-year (26,749 units) and representing the highest cumulative production since 1993 at 230,263 units (+13.1 per cent compared to January-September 2022), stressed the statement.

As for exports, the sector posted a 6.2 per cent year-on-year growth between January and September this year. In the first nine months of this year, a total of 245,124 vehicles were sold in the foreign market, compared to 230,856 vehicles exported between January and September 2022, as reported by Extra!, a partner of TV BRICS.

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