Friday, April 1, 2011

Argentine Dealer Signs Porsche-For-Wine Program to Offset Car Imports

Argentina's Industry Ministry signed an agreement with Porsche importer Grupo Pulenta according to which, the company will have to offset all car imports with equivalent exports of wine and olives.

The deal complies with local regulations that allow companies to import cars for sale only if they export goods of the same value. Grupo Pulenta, which aims to import 100 vehicles worth around $8 million this year, will therefore have to export wine and olive products to 18 countries, including the U.S. and neighboring Brazil.

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