The strengthening of the US currency is a bad sign for the sector, ACAU warned.
The sustained rise of dollar in recent weeks could impact sales of vehicles, who had a more than favorable year, according to what they warned from the Automotive Trade Association of Uruguay (ACAU).
He market showed a growth of 9.7% so far this year, with 59,122 vehicles sold compared to 53,852 in 2023, according to data from ACAU. Specifically, November was the best month, with an improvement of 15% in that period and a total of 6,596 operations.
However, the US currency is going through a bullish rally that saw it appreciate more than 14% in 2024, with strong volatility in recent months, which led the dollar to strengthen against the Uruguayan peso and reach 44,558 pesos this Friday.
ACAU admits that the rise in the dollar “could be felt” if the trend is confirmed
From ACAU they expressed their concern about this situation and admitted that it could cause a decrease in sales, if this upward trend continues over time, in the heat of a general strengthening of the dollar. at a global level.
This was made known by the general manager of the ACAU, Ignacio Paz, who in dialogue with Crónicas stated that “we have not yet seen the effect this month, but, if it continues like this, it could be felt.”
Another alarm signal is the change of political direction in the government after the victory of Yamandu Orsi in the runoff and the eventual impact on the Consumer Confidence Index, that came at high levels. “It is something that influences whether or not people are encouraged to acquire a durable good,” said Paz.
At the same time, he pointed out that issues such as “the stability of the real salary, the good level of exports and the projects of investment “They will be key to maintaining momentum” during 2025.
Source: Ambito
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