Despite the high level recorded, the indicator slowed down its dynamism and registered an annual growth of only 2.7%; Exports fell 2% due to lower demand from the United States.
The production of light vehicles in Mexico increased 2.7% last July, with 302,309 units, placing it as the highest figure, for the same month, in the last seven years. On the contrary, car exports suffered a 2% drop in that month compared to 2023, with the shipment of 271,469 units, reported Inegi.
Odracir Barquera, general director of the Mexican Association of the Automotive Industry (AMIA), explained that the slight drop in Mexican exports was due to the decrease in the United States automotive market. However, this figure was the third May for a July in history, above 270,000 cars.
During the January-July 2024 period, 2,298,445 light vehicles were produced in Mexico, which represents an increase of 5% compared to the previous year. This data is heading towards a record amount for the automotive industry.
76% of the total production corresponds to vehicles in the SUV segment (48.3%) and pickup trucks with 27.5%, followed by compact vehicles with 18%, the AMIA stated.
While a total of 1 million 986,263 exported units were reported, representing an increase of 8.4% compared to the same period in 2023.
The brands that caused a reduction in shipments are Nissan with 17%, after it reduced the export of Sentra, a unit that goes to the US, as well as VW, where Jetta suffered a strong impact on shipments.
The automotive industry sees a positive outlook in the coming months, despite the fall in the stock markets this Monday. “There are no elements to anticipate that this decline is going to be a new trend,” said Odracir Barquera.
If we see that this situation persists in the US market in the following months, we could change the perspective, but for the moment it is only temporary for one month, he added.
MANUFACTURING AND SALES OF GREEN CARS WITH ACCEPTANCE
The general director of the AMIA highlighted the 81% increase in sales of green cars, recording 11,174 in July, compared to the same month in 2023, when 6,177 units were sold. The amount sold during the seventh month already represents 9% of the share of total sales.
Guillermo Rosales, president of the Mexican Association of Automotive Distributors (AMDA), reported that 65,232 hybrid and electric vehicles have been sold in the Mexican market during January to July 2024, which represents an increase of 80.2%, compared to the same period of 2023, when 36,201 units were sold.
Of the total sales of green units, hybrids represent 70.7%, while electric vehicles have a 23% share and plug-in hybrids cover 6.1%, the AMDA revealed.
