Argentina vehicle production jumps 15.5% for August

MEDELLIN, Colombia (ICIS)–Argentine domestic automobile production declined by 8.5% in August year on year, but jumped by 15.5% over the previous month, the Argentine Automakers Association (ADEFA) said on Tuesday.

In August, 43,552 vehicle units were produced, ADEFA said.

Auto exports hit 16,486 units in August, showing a surge month on month rising by 27.4%, but year on year numbers saw a decrease of 19.7%, according to the trade association.

Total vehicle sales January through August were at 462,834, about 11.5% over the volumes sold during the same period last year.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please click here