Fast Market Research recommends "Argentina Autos Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 10/10/2013 --Over the first six months of 2013, vehicle sales in Argentina increased 16.3% y-o-y, to 462,671 units. This follows large increases over the last three months, which we believe has artificially buoyed the year-to-date figure. For now, we maintain our forecast for a 10% increase in 2013.

Despite this sharp increase, BMI maintains a bearish outlook on vehicle sales growth in the country, predicated on persistently high inflation and unemployment levels depressing consumer sentiment. Currency effects have played a large part in this strong year-to-date growth; we believe that such effects may prove to be unsustainable over the year, however, and expect the sales growth rate to moderate in the coming months.

The majority of vehicles sold in the country are imported owing to the relatively small size of domestic production. Imported cars are priced in dollars, but can be bought in pesos at the official rate; if a buyer pays with pesos bought with dollars on the black market (the implied rate), it will be considerably cheaper. Reports suggest that imports of luxury cars into Argentina have surged in the first four months of 2013, as the country's weak consumer story has little impact on this segment. We believe that this, at least in part, helps explain the recent surge in sales growth.

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