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Argentine automotive industry noticeable signs of recession
Argentina Automobile Manufacturers Association report released on the 4th, said in February this year, Argentina's vehicle production last year dropped 55.7 percent compared to the same period. Vehicle production for several months marks a significant decline in the automobile industry in the country, there is a clear signs of recession.
    
The report notes that in February this year, Argentina all automobile manufacturers to produce cars for the Quantity 14900, the Central than the same period last year and decreased 55.7% and 20.4%. This year, for automobile production in Argentina has dropped significantly. In January this year, this South American country's automobile production had dropped 54.6 percent year-on-year.
    
Financial crisis not only caused sharp drop in vehicle production in Argentina, but also its auto exports have fallen significantly. According to statistics, such as Brazil, because of reduced demand in major export markets, in February this year, Argentina exported car 8557, a decrease of 63 percent year-on-year; the Argentine domestic market auto sales for 33,100 yuan, down by 30%.
    
The automobile industry a pillar industry in Argentina, starting in 2003 to maintain high growth for many years. The first three quarters of last year because of vehicle production in Argentina to maintain rapid growth in vehicle production in Argentina last year still reached 597,100, a record high of more than 9.6 percent increase in 2007. But from the beginning of November last year, the Argentine auto industry output dropped four straight.
    
In order to avoid automobile production and sales substantially landslides, the Argentine government and auto manufacturers jointly launched a program to encourage automobile consumption. The country's major automakers introduced several special cars, the Government was to buy these vehicles provide consumers with special credit offers. However, from the present situation, the Albanian government plans to encourage automobile consumption, there are many defects, failed to timely assist the auto industry out of the bottom.
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