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Argentina Oct Car Sales Down 21% On Year, Down 13% On Month - Acara

BUENOS AIRES -(Dow Jones)- Argentina's new car sales in October totaled just 40,109, down a steep 21% on the year and down 13% on the month, the automobile concession association, Acara, said in a report Wednesday.

Sales have fallen sharply this year due to the international financial crisis and weak local demand. During the first 10 months of the year, 454,292 new cars were sold, down 18% on the year.

Acara said that a slowdown in sales is common at the end of the year, as customers hold back for next year's models.

The association is still expecting to meet its sales target of 500,000 automobiles sold in 2008, the sector's third best year on record, according to the report.

-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@ dowjones.com

  (END) Dow Jones Newswires
  11-04-091209ET
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