Pedal to the metal: Latin America's auto sector climbs out of the basement in a bid to...

Driven by an improving regional economy, the Latin American automotive sector stepped on the gas and recovered strongly from the slowdown it suffered beginning in 1998. In 2004, auto production in the region jumped 17.2%. Much of that increase is due to a 27% jump for the region's biggest car producer, Brazil, and because of the extraordinary turnaround of the Argentine automotive industry, which grew 50% in 2004, and that of Venezuela, up 120%.

Along with Mexico, where production stayed level, these three countries form a bloc of four main participants in the region's