Argentina auto production jumped 170% in February compared to Feb'09. (Source: ADEFA)
Another positive sign of economic recovery for both Argentina and several export destination countries based on data released yesterday by the Argentina Association of Auto Manufacturers (ADEFA).
The Association is reporting a 170% increase in auto production for February 2010 compared to the previous year, or approximately 40,000 units compared to 14,900 units in February 2009. Last month’s robust auto production figures also represent a 27% increase over January 2010, according to ClarÃn.
Argentina’s auto exports boasted similar triple-digit gains with a 171% increase in February 2010 vs. February 2009. February exports to Brazil—historically the largest importer of vehicles manufactured in Argentina (87% per ADEFA)—jumped 185% compared to last February.
The top three countries or regions posting the largest year-over-year increases in autos imported from Argentina were Asia (473%), Europe (838%), and South Africa (which must currently be importing enough new cars to accommodate every player, journalist and foreign visitor for the upcoming World Cup…19,200%).
While exports are obviously booming, domestic auto sales at Argentina dealerships this February grew a more moderate 49% compared to last February. In terms of total production, the Top 5 manufacturers are GM Argentina, Ford Argentina, Fiat Argentina, Peugeot-Citroen and Renault Argentina. (Production by Make Pie Chart).
[...] looked at automotive output six months ago, there was cause for full-year 2010 optimism: February production was up 170% compared to February 2009. Now the mid-year data released yesterday shows strength on both domestic [...]