There are no signs of relief as yet in the hard pressed Argentinean car industry. Output in July was a savage 44.2% down on last year at 19,467 from 34,890. That was only marginally better than the YTD deficit of 49.5%, at 106,047 from 210,092. Output had risen steadily and with conviction to the 366,466 of 1997, and 1998 had started off as if 400,000 would not only be beaten, it would be left in the rear view mirror. But then came October and the shock waves from the Far Eastern crisis pounded on the shores of South America and Argentina went into savage decline. From a peak annualised build rate of nearly 385,000 in August 1998, the sector has now slipped drastically to a rate of 249,000 as at the end of July and at the current rate the sector will be lucky to see 210,000 cars built for full-year 1999.