Argentina - The Argentine commercial vehicle market experienced significant decline in the first half of 2024, with sales reaching 5,639 units, a 22.9% drop compared with 7,318 units sold from January to June last year. According to ACARA (Association of Automotive Dealers of the Republic of Argentina), June sales totalled 966 units, marking a 23.7% decrease from 1,266 units in June 2023.

Sebastián Beato, president of ACARA, stated that high interest rates, exceeding 100% until April and later reducing to around 30%, greatly impacted these figures. He added that maintaining and further reducing interest rates was crucial for boosting vehicle sales and supporting the country's economy. Beato also advocated the need for collaborative efforts between the sector and manufacturers to launch discount and promotion programmes to stimulate sales. Additionally, he noted that several vehicle factories in both Argentina and Brazil had faced production interruptions due to parts shortages and logistical issues following floods in southern Brazil.