Presentation (PDF).pdf

Argentina-Automotive-Situation-2020.pdf
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🔗 Source: bbvaresearch.com
📊 Size: 1.58 MB
👤 Author: Iparraguirre, Mario Emmanuel
⬇️ Downloads: 99

Summary

Argentina's automotive industry was severely affected by the COVID-19 crisis in 2020, with a 66.5% year-over-year drop in gross value added in the second quarter. However, the sector bounced back in the second half of the year due to growing pressure on the FX market and expectations of accelerated inflation, triggering consumption of durable goods. Despite this, the sector's trade balance returned to deficit after a surplus in 2019, due to a retraction in automotive exports. A recovery in demand for automobiles is forecast for 2021, with estimated sales of around 420,000 units, although vehicle affordability is expected to worsen. The COVID-19 pandemic plunged Argentina's economy into one of its worst crises, with an estimated 11% year-over-year contraction in GDP in 2020, similar to the 2002 crisis.

Description

Argentina's automotive industry was severely affected by the COVID-19 crisis in 2020, with a 66.5% year-over-year drop in gross value added in the second...

Technical Information

  • File Format: PDF
  • File Size: 1.58 MB
  • Pages: 34
  • Language: EN
  • Author: Iparraguirre, Mario Emmanuel
  • Total Downloads: 99
  • Last Updated: 23 hours ago

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