For years Argentina’s auto industry has been a critical sector of the country’s economy. Last year it posted record car sales. However, this year it’s been a different story in the face of economic uncertainty.
Industrial output has slowed, some are losing their jobs and there are fears the trend may continue.
At least 250 workers who lost their jobs at the auto parts company Lear protested. They are supported by students, human rights advocates, and political organizations.
Police watch over the demonstrations outside the Lear factory as some protests over the past two months have turned violent. One worker representative here told us that neither the government nor the unions are preventing what they claim is illegal dismissals.
The auto industry has been one of the growth sectors in Argentina. Sales have boomed over the past decade. In 2002, just 22,000 new cars were sold. By last year, that number had risen to nearly a million.
What those in the industry are hoping for is some sense of stability. But with ongoing economic concerns, plus presidential elections next year, stability could be some time in coming. CCTV’s Joel Richards reports from Buenos Aires.
Job losses in Argentina's auto industry lead to violent protestsFor years Argentina's auto industry has been a critical sector of the country's economy. Last year it posted record car sales. However, this year it's been a different story in the face of economic uncertainty.
To discuss developments in the Latin American auto industry, particularly in Argentina and Brazil, CCTV America’s Michelle Makori is joined by Brendan Case, a reporter with Bloomberg.