The Argentine market (PC + LUV) declined 43.0% in 2019
- The Argentine automobile market (PC+ LUV) collapsed by 43.0% in 2019, to 440,000 units, compared to 772,000 in 2018 and 863,000 in 2017. This market has therefore been divided by two in two years, and this situation is completely different from that observed in Brazil. Despite an ambitious reform programme, Argentina’s economy is still in severe recession, unlike that of neighbouring Brazil. The situation deteriorated further in 2019: currency depreciation and restrictions, a runaway inflation.
- The last two years showed a worsening situation and the year 2020 is likely to be even worse. Indeed. In January 2020 the Argentinian market fell further by 25.6% and no signs of improvement are in sight.
- In this context, the carmakers operating in Argentina have no illusions about an hypothetical improvement of the trend and wait the end of the storm. According to Inovev, the Argentine market could fall to 300,000 units in 2020.
- By carmakers, the Renault-Nissan group becomes the leader of the Argentine market in 2019, thanks to its low price range of models (mainly Dacia rebranded models). This group now holds 18% of a shrinking Argentine market, ahead of the Volkswagen (16%), leader in 2018, Toyota (14%), Fiat-Chrysler (12%), Ford (11%), GM (11%) and PSA (10%). It is to note that SUVs represent 17.5% of the Argentinian market in 2019, against 14.5% in 2018. SUVs are still not very present in Argentina (as for Brazil), if we compare these two countries to European countries, China or to USA.
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