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Auto Markets Diverge: Argentina Slumps, Mexico's Domestic Sales Hit Record, Spain's Used Cars Go Electric

Government tax moves, tight financing, U.S. tariffs will shape whether recent monthly upticks turn into sustained recoveries.

Overview

  • Argentina's vehicle production fell 18.3% in the first half of 2026 to 204,658 units while June output was 37,029 units and exports weakened, even though wholesale deliveries rose 22.5% in June.
  • Argentina's used‑car market rebounded in June with about 155,750 transfers, lifting month‑on‑month and year‑on‑year volumes but leaving the first half down roughly 2.9% versus 2025.
  • Mexico posted a record 754,394 new‑vehicle sales in the first half of 2026, yet June production and exports fell and exports dropped about 9.2% year‑on‑year as U.S. tariffs and model/plant shifts reduced shipments.
  • Spain's second‑hand market is rapidly electrifying with pure EV transfers up 45.3% and plug‑in hybrids up 49% in H1 2026, making electrified used models about 4.3% of the occasion market.
  • Industry groups say recent policy steps such as Argentina's export‑duty cut help competitiveness but warn recovery depends on cheaper credit, lower local taxes and the resolution of trade frictions that could affect factories, jobs and suppliers.