The automobile production in Argentina’s arm of General Motors had to be suspended due to the lack of parts.
According to the local press, the Santa Fé plant of General Motors had to stop production due to “a problem with the players its supply chain.” The plant produces pick-up trucks, usually exported to Brazil and Colombia.
The company was quoted as saying that the problem derives from the shortage of foreign currencies to import raw materials and auto parts, which is affecting all industries in the country, and the auto industry is no exception.
The Renault plant in Córdoba has also stopped operations recently, for the same reason.
Argentina’s foreign trade authorities have recently issued certificates authorizing the liberation of funds for concluding import operations, but the measure was not sufficient to solve the problem, as the shortage of foreign currencies, chiefly the US dollar, remains unavailable to pay the foreign suppliers.
In the local steel industry, the shortage of foreign currencies is also affecting the supply of iron ore, pellets and other raw materials not produced in the country.