AD_MAGAZINE_351

13 AutoData | December 2018 AndArgentina, howwill it be in this sce- nario? The eleven launches we announce for 2019 are in Mercosur, not only in Brazil. The Argentine market will close 2018 at around 800 thousand units, which is his- torically a good number, it is not a record but it is good. The fact is that this volume will be reached with a very difficult se- cond half, especially in the fourth quarter. One problem is that the consortium is very important in Argentina, as well as the direct sales here in Brazil, and this channel has many difficulties due to price increase, devaluation of the peso. I think the first half of next year will be difficult in Argentina and the second half could be better. Let’s say that the country will reach 650 thousand units sold next year, maybe even a little more, 700 thousand. Returning to the Brazilian market: how do you see the advance of direct sales? The direct sales growth (as a channel) is not inorganic, it’s true, not a bubble. But the growth rate of retail should be stronger next year, so the direct sales index will fall. Another important point in this matter: if you look at the car ren- tal companies’ financial result, and not only in Brazil, a part of the profit comes from the resale, and that, in economic terms, will need adjustments someday. The asset should be part of the cost, not the profit. That is why not sustainable discounts are being given (not to close factories) but when the volume returns this will normalize. What is your opinion about the final text of Rota 2030? Regarding energy efficiency, I believe that we are already at a technological level where we can achieve the goals in a comfortable way. But my point of view is different. I really think Rota should be an automotive industrial policy, a relevant policy, and the program basically turned into a schedule of emissions and safety items. But what is past is past, now we have an opportunity to look forward to an “GM is not in a difficult financial situation today. The spending cuts that GM announced in the United States have nothing to do with it.”