The domestic market is driving car production in Argentina, and manufacturers are projecting more exports
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The automotive industry once again showed positive signs in May thanks to the boost from the domestic market.
The manufacturers highlight the sustained growth and are already setting an agenda to boost exports in the second half of the year.
La industria automotriz volvió a mostrar señales positivas en mayo
Vehicle production grew by more than 25% in May
According to data from Adefa, in May 48,109 vehicles were manufactured in Argentina.
This represents an increase of 5.8% compared to April and 25.2% more than in May 2023, when 38,440 units were produced.
So far this year, 207,630 vehicles have already been produced, marking a growth of 12.4% compared to the same period in 2023.
Según datos de Adefa, en mayo se fabricaron 48.109 vehículos en la Argentina
Exports increased
During May, 26,346 units were exported, representing a rise of 16.4% compared to April. In comparison with May of last year, the growth was 14.7%.
Durante mayo, se exportaron 26.346 unidades
However, in the accumulated total from January to May, 106,894 vehicles were exported, just 0.9% more than in the same period in 2023.
Wholesale sales with historic growth
The volume of cars sold to dealerships in May was 58,952 units. This implies an increase of 12% compared to April and a jump of 111.7% compared to May 2023.
Between January and May, 239,194 units were distributed, 84.5% more than the 129,194 in the same period of the previous year.
Concesionario de Volkswagen.
Automakers seek to boost exports
Martín Zuppi, president of Adefa, highlighted that May's figures match what was anticipated to the Minister of Economy, Luis Caputo.
He emphasized the joint work between the sector and the Government, and the need to improve conditions for exporting.
Luis Caputo en la Bolsa de Comercio de Córdoba.
The automotive industry, the engine of industrial exports
"After the boost from the domestic market, we see a slower growth rate in exports," Zuppi explained.
He recalled that the sector accounts for 47% of exports of Industrial Manufactured Goods (MOI) and 65% of those destined for Brazil.
In addition, the automotive complex has a 9.5% share in the country's industrial GDP.
El sector representa el 47% de las exportaciones de Manufacturas de Origen Industrial (MOI)
New tools to reach more markets
Zuppi pointed out that the agenda for the second half of the year will focus on boosting production with an export-oriented approach. "We agree with the Minister on the need to develop new tools to help increase exports," he stated.
He also highlighted that the destination markets in Latin America have been growing by 4% so far this year, about 55,000 more units.
