Will Argentina car exports flourish under Bolsonaro?
Approximately half of the vehicles produced in Argentina are exported and 70% of this amount is sent to Brazil (at least 1 in three cars), according to Raúl Amil who is the owner of Argentina autoparts factories association AFAC.
However, with a new government set to take over in Brazil next year, the executive is questioning whether or not Brazil will maintain the number of automobile imports from its Western neighbor. Brazil’s President-elect Jair Bolsonar's nationalistic view has been compared to US president Donald Trump.
Despite much of Brazilian business investors being positive of the new government (Sao Paulo stock market Bovespa has risen 6% since election results one week ago), AFAC is not expecting any significant jumps in Argentina’s automobile industry next year, local paper El Cronista reported.
South America will have to wait until the policies are defined under the new administration, which is set to begin on January 1, 2019.