Overview
- Grupo Corven, which detailed the plan Tuesday in local outlets, set a roughly US$50 million program to grow Foton assembly and begin building pickups in Argentina.
- About 80% of the new Campana production line is complete, with an opening targeted in six to eight months to make six or seven models and shift output from the current Caseros site.
- Talks with Chery continue on possible local production of SUVs and a mid-size pickup, with the Himla name filed at Argentina’s patent office, though no launch timing is set.
- The company says any Chery move and the deeper Foton build-out depend on reaching enough sales to support local lines and on developing a domestic supplier base.
- Management flags tighter financing as a risk, citing higher dollar costs from the exchange rate and a rise in customer loan delinquencies to 20% from 10%, even as interest rates start to ease.