Following two months of relative stability the sale of new cars fell sharply over the course of May, with figures showing a drop of 16.4 percent over the month compared to the same period in 2014.
The Car Dealerships Association (ACARA) revealed that registrations of new vehicles had fallen 21 percent so far in 2015 in a report released today on the industry. In May, 47,261 cars were put on the road, down from 56,572 in the same month last year.
Numbers also dropped from April, when 52,278 new vehicles were registered. In this context, the continuing drop in sales reflect the critical condition currently suffered by the automotive industry.
Falling trade with Brazil, whose economy is receding leading to less exports, the lack of accessible credit and the high prices of new cars are impeding the recovery of the sector, which had been in a sharp downturn since the start of last year. As a comparison, the registrations recorded for the past month are just over half the quantity of May 2013, when 92,387 new vehicles were put on the road.
Source: Buenos Aires Herald