Honda Motor de Argentina announced yesterday that it invested u$s5 million to produce a new motorbike model. This amount is in addition to the $15 million that the company has spent over the last two years on its production lines and parts' localisation process.
Day: February 26, 2021
Luxury tax may increase car prices by up to 11%
With the update of the Internal Taxes' taxable base arranged this week by the AFIP, the automakers are preparing to adjust the price lists of the 0 km that will apply from Monday. The first carmaker to change prices is Toyota. It increased the wholesale value of some models by 11% but only passed on 5% to the public. The other brands are defining their strategy.
January trade balance recorded $1.07 bn surplus
The trade balance recorded a surplus of $1.068 billion in January due to exports of $4.91 billion and imports of $3.84 billion. The first month's data seem to indicate a general improvement in the country's foreign trade conditions. Strictly speaking, the higher export earnings were the result of the increase in the price of soybeans averaging $500/tonne. In terms of quantities, there was a fall in shipments abroad.
Economic activity rose 1.3% in the first month of the year
Economic activity in January recorded year-on-year growth of 1.3%, according to estimates by the Orlando Ferreres Centre for Economic Studies. Half of the impetus for growth in the first month of the year came from industrial activity; the manufacturing sector is the engine of economic recovery after the financial collapse of 2020 caused by the covid-19 pandemic.
Cresud sold meat processing plant in La Pampa for $10 mn
As part of a strategic plan to obtain liquidity to finance new investment projects, Cresud completed the sale of 100% of the shares of Sociedad Anónima Carnes Pampeanas. For this operation, the agro-industrial firm belonging to the group led by Eduardo Elsztain obtained $10 million. The procedure will profit 620 million pesos ($6.9 mn) to its balance sheet.
