Latin America Business News
Argentina Will be Home to New Honda Manufacturing Facility
The Japanese automaker Honda has announced it will begin production in the outskirts of Buenos Aires, Argentina next year. The Honda plant located in Campana Argentina when opened, will have the capacity to produce 30,000 automobiles annually. Close to 60% of the automobiles produced will be exported, Honda stated.
Honda has resumed investing, $500 million to be exact, in the South American nation after the economic crisis in late 2008. The automobile industry in the nation was immune to the economic crisis due to tax incentives and exports to the rest of Latin America, offered by the Argentinean government.
From January though May, Argentina produced 241,220 automobiles, a sharp increase of 59.1% compared to the same period last year. Another indicator that Argentina’s economy is rebounding.