Argentine carmakers increased their output in November, after the significant decline recorded the previous month.
Automotive production rose 3.2 percent in November compared to October, although it didn’t grow compared to November 2010. Weaker demand from Brazil and other South American countries also led to a decline in Argentine car exports.
According to the auto makers association (ADEFA) monthly report, vehicle production in November totaled 75,564. Production during the first 11 months of the year was 776,359, up 19 percent year-to-date. The local auto industry is looking forward to a record year for vehicle production and sales.
Earlier this year ADEFA forecast record 2011 production of 840,000 vehicles. With one month to go, Argentine automakers have already surpassed the previous high mark of 716,540 vehicles set last year. The automotive sector accounts for just over 50 percent of the country’s entire manufacturing industry, while auto products make up almost 38 percent of all Argentine exports.
Argentina’s vehicle exports in November reached 40,901, down 3.7 percent on the month and 17.8 percent on the year. Auto sales to local dealers totaled 76,060 in November, down 7.6% from the previous month but up 8.3% on the year.