ARGENTINE AUTO SECTOR’S HOPES FOR STELLA 2018 DASHED BY PESO CURRENCY COLLAPSE
May 1st, 2018
Argentina’s auto industry had expected a near record year in 2018, but unexpected financial problems that have hit the country in the past month could push the economy into recession and dampen local demand for cars.
These problems are a far cry from the optimism expressed on April 4, when the heads of three carmakers spoke bullishly about production and sales growth at a business conference staged in Buenos Aires by economic consultancy Invecq Consulting.
“We are on track to possibly equal or surpass 2013,” said Luis Fernando Peláez Gamboa, ...
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