9 Jan 19
News

Argentina car sales down 11% in 2018

Argentina registered 802,992 new light vehicles in 2018, down 10.9% year-over-year, according to the country's automobile dealers association ACARA.

This is a stark contrast from the year before when South America's second largest automobile market saw an increase of 26.9% to 900,922 units.

In 2018, Argentina increased its benchmark interest rate to 60% - the highest in the world - to stop the weakening of its local currency. The Argentinean peso lost approximately half its value agains the US dollar last year.

Best selling car brands in 2018

1. Volkswagen (119,006 units)
2. Renault (107,235)
3. Chevrolet (101,142)
4. Ford (96,116)
5. Toyota (91,783)

Best selling car models in 2018

1. Toyota Hilux (33,439 units)
2. Toyota Etios (32,008)
3. Ford Ka (30,370)
4. Chevrolet Onix (30,286)
5. Chevrolet Prisma (27,967)
Authored by: Daniel Bland