Argentina 2015. The automotive industry have lost again

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Argentina car market
Fiat-500L_Beats_Edition-2014

Argentina Vehicles Industry in 2015 down 6% albeit the relevant recovery reported in the fourth quarter, immediately after the political election and the announcement of new economic policy.

Economic Environment

Mauricio Macri, who triumphed in December’s presidential elections, is quickly moving forward with reform implementation, thus fueling expectations of an economic turnaround. Last month, the new government scrapped export taxes and devalued the currency amid depleting foreign reserves.

While the tax reforms and the weaker peso are expected to benefit the country’s exports, the depreciation of the currency will likely fuel inflation, which is already in the double-digits. Moreover, Macri’s government hopes to seal a deal with the U.S. hedge funds over the defaulted debt as soon as this month.

A successful deal would give Argentina much-needed access to international capital markets. Recent data show that consumers were less confident in December as the consumer confidence index dropped to a three-month low, likely reflecting concerns of higher expected inflation.

Market Outlook

Q4 2014 market performed a +18% showing a robust change in the trend and mirroring a renovated hope expressed by Argentina’s citizens approaching and following the fundamental political election that in December signed the end of the Kirkner family era.

Therefore the 2015 was the worse out of the last sixth years and according to data released by the ACARA and the ADEFA, the Argentinian Associations of car manufacturers and dealers, the new light passengers vehicles market ended the year at quota 613.604 units, down 62% from the previous.

Perspectives for the 2016 are moderately positive with market expected to start a period of recovery. However, this has been one of the most in stable and unpredictable market in the recent years and surprises can arrive any day.

On top of the list, Volkswagen improved sales during the year with final figures at 115.842 (+3.5%) followed by Ford with 90.204 (-1.5%), Chevrolet with 86.143 (+4.0%), Renault with 77.380 (-8.1%).

The great loser was the Italian Fiat, down 2 spots with 70.135 units (-17.1%) together with PSA group brands, with Peugeot down and Citroen 23.1%.

Among premium brands, very well Audi (+48.5%) and Mercedes (+18.1%). Down BMW (-25.6%) and Jeep (-55.%).

The Volkswagen Gol confirmed the supremacy among models with 30.722 sales (-10.4%) followed by Chevrolet Classic at 28.741 (+13.3%), Toyota Hilux at 27.515 (-0.4%), Ford Fiesta at 25.131 (-0.1%), Fiat Palio at 24.690 (7.2%), Ford Ecosport with 23.970 (-5.3%) and Renault Clio at 21.682 (-20.4%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

 

 

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