Fleet Mobility Today: Snapshot on Argentina
This snapshot provides a glimpse into Argentina's mobility landscape, highlighting key economic factors, automotive trends, and energy costs crucial for understanding the country's mobility ecosystem.
Economic Overview:
Population: Argentina has a population of approximately 50 million people.
GDP: As of 2022, the GDP stood at $630 billion, translating to approximately $12,600 per capita.
Currency: The currency in Argentina is the Argentine peso, with notable fluctuations due to high inflation rates.
Economic Indicators:
Inflation and Interest Rates: Inflation rates reached a staggering 211% by the end of December 2023, with interest rates standing at 109%. However, both indicators have been on a decreasing trend in the first quarter of 2024.
Unemployment: As of September 2023, unemployment in Argentina was recorded at about 5.7%.
Key Industries:
Argentina's economy is driven by key industries including agriculture, livestock, oil and gas, mining, automobile, and textiles.
Vehicle Fleet:
Registered Vehicles: Argentina boasts approximately 15 million registered vehicles.
Top Brands: Leading automotive brands in 2023 included Fiat, Volkswagen, General Motors, Toyota, and Hyundai.
Top Models: The best-selling models in 2023 were the Fiat Kronos, Peugeot 208, Toyota Hilux pickup, Volkswagen Amarok pickup, and Toyota Etios.
Manufacturing: Argentina hosts OEMs with factories from Fiat, Ford, General Motors, Honda, Mercedes-Benz, Nissan, Peugeot, Citroën, Renault, Toyota, and Volkswagen.
Energy Costs:
Gasoline and Diesel: Gasoline costs approximately 81 US cents per liter, while diesel is slightly higher at 89 US cents per liter as of the beginning of 2024.
Electricity: Argentina offers relatively cheap electricity, with costs as low as 2 US cents per kilowatt for household and business accounts as of June 2023.