A number of countries have stated that for them the world economic recession has passed its lowest level and things have started to improve.
GV Cars along streets in Buenos Aires
GV Cars parked in city centre (2 shots)
GV General Motors factory showing new cars in compound (3 shots)
GV Second-hand cars for sale (2 shots)
SV Last year's cars with prices on windscreens (2 shots)
GV People walking in pedestrian precincts (3 shots)
GV Entrance to General Motors factory with traffic passing
GV Few cars along road in front of General Motors factory
Information in Argentina is expected to reach 600 per cent this year but the government of General Jorge Videla has said that it's confident that things will improve in the country within the next six months.
Script is copyright Reuters Limited. All rights reserved
Background: A number of countries have stated that for them the world economic recession has passed its lowest level and things have started to improve. But the Argentine government says it expects the country's economic problems to continue for at least another five months.
SYNOPSIS: One f the hardest hit areas of Argentine industry has been in the manufacture of motor cars. This is in direct contrast to past years when many of the country's population considered it a status symbol to own a new car. The city of Buenos Aires has a population of eight million people and one in eight people owns a car.
But now, one of Argentina's largest motor manufacturers, the American owned General Motors, had found that it has produced too many vehicles this year and cannot sell them. The cars stand idle in the factory compound. The recession has also meant that many Argentines cannot afford to run their cars anymore and cars that are only three months old can be bought for half the original pr??? second-hand motor deale???.
The drop in car sales started shortly after Argentina became worried by its traffic problems in the main city centres, and banned all vehicles except public transport in certain streets during the main daylight hours. Pedestrian precincts were also created. But now there are no new cars streaming out from General Motors factory in Buenos Aires and the operation has closed down. The long traffic jams near the city centre are a thing of the past and many of the roads are now virtually empty in the rush hours.