Honda Motor Co. said Wednesday it will stop making cars in Argentina next year as part of efforts to streamline its production allocation worldwide.

The automaker produced about 10,000 units of its HR-V sport utility vehicle and around 100,000 motorcycles at its plant in Campana, Buenos Aires, last year.

A company spokesman said that it has been difficult to maintain profitability in the country's shrinking auto market and that the falling Argentina peso has pushed up the cost of imported auto parts.

Honda has already announced it will close an auto plant in Britain and terminate production of the Civic in Turkey, both in 2021, as part of its global restructuring of production.

In South America, Honda has two factories making four-wheel vehicles in Brazil that produce a combined 240,000 units a year.