Inegi, through the Administrative Registry of the Light Vehicle Automotive Industry, reported that Volkswagen, Honda and Mazda are the brands with the highest increase in production. Meanwhile, General Motors and Honda boosted exports.
Mexico’s automotive industry “turbocharged” in May and achieved record production and export figures for the same month in its history, driven by demand in North America, reported Inegi.
Automotive companies established in Mexico produced 365,574 units, representing a 4.9% growth compared to the figures reported for the same month in 2023.
Meanwhile, exports of light vehicles reported growth of 13%, with the volume of 310,655 units, which exceeds the figure for 2019, when the shipment of 319,017 units was recorded.
The National Institute of Statistics and Geography (Inegi) through the Administrative Registry of the Light Vehicle Automotive Industry, reported that Volkswagen, Honda and Mazda are the brands that presented the greatest increase in production. Meanwhile, General Motors and Honda boosted exports.
“Production and exports for the month of May 2024 had solid performance. It is the strongest May since 2005 for both production and exports, the year in which the Administrative Registry of the Automotive Industry was initiated,” highlighted the Mexican Automotive Industry Association (AMIA).
The information, which comes from 23 companies affiliated with the Mexican Automotive Industry Association, Autos Orientales Picacho, Giant Motors Latin America and Great Wall Motor Mexico (only in the case of domestic sales), highlighted that accumulated production grew by 5.5%. In terms of exports, there was a 12.3% growth from January to May 2024, compared to the same period in 2023.
During January-May 2024, 1,651,930 units were produced in Mexico.
Of these, light trucks, including SUVs and pick-up trucks, accounted for 75.2% of total production, while the rest corresponded to the manufacture of automobiles.
The United States accounted for 80.4% of total exports, with 1,147,170 vehicles.
The AMIA expects Mexico to produce up to 4 million vehicles by the end of 2024, of which more than 80% will be exported. Odracir Barquera, director of the AMIA, highlighted the contribution of GM and Ford’s electric vehicle production, which so far has achieved 36,100 units assembled.
Source: El Economista