Vehicle production in Argentina drops by 19.6% in Sep

06 October 2016 18:31 Source:ICIS News

MEDELLIN, Colombia (ICIS)--Argentine domestic automobile production declined by 19.6% in September year on year, and fell by 2.2% over the previous month, the Argentine Automakers Association (ADEFA) said on Thursday.

In September, 42,599 vehicle units were produced, ADEFA said.

Auto exports hit 17,658 units in September, showing a surge month on month rising by 7.1%. Year-on-year numbers saw a decrease of 19.2%, according to the trade association.

Accumulated production this year through September was 347,895 vehicles, 56,559 lower than during the same time period in 2015, according to the trade group.

Sales to dealers saw an increase of 6% month on month, and registered a yearly increase for September of 12.2%, ADEFA said.

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

By Leela Landress de Perez