Automaking continues to decline despite subsidy to sales
Many sectors across the economy have been hit by recession and lower consumption, but hardly anyone has suffered as much as the automotive industry.
While car manufacturing has been on a downtrend since its peak in 2011, the steep devaluation seen in 2018 disrupted the long-term plans of the sector even further, hitting at sales and local production.
Since then, the numbers have remained in the red, with only 30 percent of the installed production capacity currently being used. If the pace of the decline seen so far this year continues, production in 2019 could see the worst figures since 2005.