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Argentina’s booming automobile industry has been a motor of

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Cheap Canada Goose Sale Canada Goose Jackets Neighboring Brazil will be the main market for the new model, Fiat Argentina President Cristiano Rattazzi told the Reuters Latin America Investment Summit in Buenos Aires.Fiat Argentina expects production of its Siena and Palio models to reach between 110,000 and 120,000 vehicles in 2011, up from 94,000 units last year, Rattazzi said.”We didn’t expect to raise production as quickly as we’re doing now,” he said, reiterating that strong demand is leading the Argentine unit to hire an extra 1,000 workers at its plant in the central Argentine province of Cordoba.Argentina’s booming automobile industry has been a motor of strong growth in Latin America’s No. 3 economy, fomenting surging industrial output that grew by 9.0 percent in February from the same month last year.Auto production rose 41.2 percent in 2010 from the previous year and Argentine carmakers produced a record 724,023 vehicles, according to car industry group ADEFA.Rattazzi said he expected total output to reach up to 800,000 units this year.Fiat Argentina exports about 85 percent of its vehicles to the Brazilian market and Rattazzi said it would absorb most of the production of the new model.”The prospects are good, especially because of the Canada Goose Outlet strong demand from Brazil,” he said. “(The new model) is for all of Latin America (although) Brasil is obviously so dominant.”Fiat, which is keen to offset dwindling sales on the mature European market, plans to invest some $5.8 billion by 2015 in Brazil, a plan that includes cars, auto parts, and agricultural equipment.Rattazzi, born in Argentina to Italian parents, said Argentine industry leaders were increasingly concerned Cheap Canada Goose about the competitiveness of exports as surging inflation raises their costs.Argentina’s economy expanded by a scorching 9.2 percent last year, one of the fastest rates in the region, but inflation estimated privately at 25 percent is fueling wage demands and eroding the advantage of a nominally stable exchange rate.”No country can have wage rises of 25 percent or 30 percent year after year without seeing some kind of impact on the economy, above all on prices,” Rattazzi said Cheap Canada Goose Jackets.

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