Country Overview The Argentine Republic is the 2nd largest country in South America by land area, after Brazil (including its Antarctica’s territories), covering over 2.780.000 square meters. It is the 8th larger country in the world with a population of 42 million people (the 32nd). It is the largest global area among Spanish-speakers nations. It is constituted as a federation of 23 provinces plus the Capital area of Buenos Aires, where are living 13 million people or the 31 percent of total population. The light passenger industry in 2011 was the world’s 19th.
October 2013 was enthusiastic for carmakers as the purchase of a new vehicle was again one of the best ways to invest money in Argentina. Market boomed 25.1% posting the seventh year on year increase in a row. Chevrolet was market leader advancing Volkswagen.
In September 2013, the light passenger vehicles market boomed 31.0% in Argentina, pumped up by high inflation and government desperate rules to defend pesos and finance public debt. Renault was able to overtake again Volkswagen in an interesting battle for leadership.
While Argentina financial situation is already near the bankrupt and future is any day more uncertain, high real inflation rate is pushing up the car market and in August 2013 the sales grew 7.7% from last year. Fiat advanced in fourth place with the best share of the year.
July reported a further strong performance posted by the Argentinian car market soared 18.8% from the previous year. However the risk of sudden collapse for the car market increased and it is estimated at 50%, as Argentina is already in financial default.
In June the Argentinian car market grew 5.7% from last year as consumers were benefiting from still-expansive fiscal and monetary policies and relatively low unemployment. First half 2013 figures improved 7.7% as outlook is most favorable in the second.
In May, the light passenger market in Argentina confirmed the recent recovery posting a robust 21.0% increase from last year, with cumulate sales up 8.1%. Thanks to Ka and Ecosport success, Ford kept the second place conquered in April.
Following nine y.o.y. declining months out of last ten, in April the Argentinian car market posted a robust growth, with sales up 36.1% from last year. Thanks to this wonderful performance the year-to-date market was positive by 4.9%. Ecosport pushed Ford in second place.
March 2013 was negative again for the car market in Argentina, with sales dropping 8.1% from last year. The first quarter was stored with a loss of 2.5%. While the top brands share performance was stable, the Chinese Chery advanced at 1% of market share.
In February the car market in Argentina recovered offsetting the January. Sales were up 7.3% with cumulate performance flat on last year. Volkswagen recovered the January loss, while Fiat confirmed a great momentum with share stable above 11%.
The new year did not bring good news for the Argentinian car industry with sales down 3.4% from last year. While Volkswagen started losing share, Renault and Chevrolet started very well challenging the leader.
In December, the Argentinian car market posted the 7th consecutive decline losing 5.9% from last year and the year ended losing 4.6% from the 2011, however achieving the second best ever volume. Ford Ecosport entered in the Top 10 ranking.
In November, the Argentinian car market posted 6th consecutive decline losing 12.9% from last year. The first eleven months sales were down 5.2%. Volkswagen confirmed the market leadership with share above 20% and Gol as best-selling model.
The Argentinian car market recovered in October after the severe drop posted in the previous month, with a little fell of 3.3%. Year-to-date sales were down 4.5% from last. Volkswagen recovered the market leadership, posting a share of 20.2%.
In September, the Argentinian car market dropped at 61.830 sales, down 25.6% from last year, exceeding any expectations. Year-to-date sales were 644.652, down 4.6% from last year. Renault outpaced Chevrolet in 2nd place while Fiat confirmed the trend dropping at 8.2%.