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.

From January to May 2024, a total of 4,665 commercial vehicles were sold in Argentina. This figure represents a 22.9% decrease compared with the 6,052 units sold in the corresponding period of 2023.

Truck and bus registrations above 6 tons gvw during the first quarter of 2024 in Argentina fell by more than 1,000 units.

Annual sales of trucks  and buses in Argentina of 6t gvw and above held up remarkably well in 2023 to register 14,163 vehicles as compared with 14,668, a decline of just 3.4%.

Iveco’s Tector 170 E medium-duty model fell by 19% in 2023 to 1,684 units (2022: 2,079), yet the model remained the most popular truck in the Argentinian CV truck market.

Iveco maintained its sales leadership with 4,199 units sold in the period from January to September this year, resulting in growth of 16.0% compared with 3,620 vehicles in the same period of the previous year.

The partners plan to initially invest a combined USD2.64bn to build a facility with a production capacity of 21 gigawatt hours (GWh) of batteries per year for commercial and industrial vehicle applications.

Iveco confirmed its leadership in the Argentine heavy commercial vehicle market, both by brand, displacing Mercedes-Benz, and by model, with the Tector 170E truck.

Argentina's CV market remained stable despite continued inflation and devaluation of the peso.

Argentine CV market moderately positive in first six months of 2022.

Sales of medium and heavy commercial vehicles, trucks and buses of 10.5t gvw and above, in Argentina rose by 63.1% in the first quarter of 2021 to 3,984 units compared with 2,443 units sold in the same period of 2020.

The difficulties of Argentina’s economy, which began in July last year is continuing and causing damage to Argentina’s automotive industry suggests ACARA, the Association of Concessionaires of the Argentine Republic.