AMDA's Monthly Market Report's HighlightsBy Alejandro Enríquez | Thu, 07/09/2020 - 16:00
AMDA presented its monthly report on the status of Mexico's internal vehicle market. As presented earlier this month, 1H20 saw a 31.9 percent reduction compared to 1H19, and a 41.1 percent reduction in June compared to June 2019.
"Business and consumer trust have been deteriorated, finding itself in the lowest levels since we have records; adding job losses, the environment will continue to be negative." said Guillermo Rosales, Director General of AMDA.
All vehicle segments saw major annual monthly reductions, subcompact vehicles took the largest hit with 50.9 percent reduction, and light trucks took the least with just a 18.1 percent reduction. Particularly subcompact segment saw a market share reduction going from 34.5 percent share in June 2019 to 31.83 percent in 2019, while light truck segment increase from 14 percent share in 2019 to 16.57 in 2019.
In terms of market share per brand, Nissan continues to hold the first place with 20.2 percent of the market, followed by GM with 16.5 percent, Volkswagen with 10.4 percent, Toyota with 8.5 percent, KIA with 7.3 percent, FCA with 5.2 percent and Honda with 5 percent. In total, these seven brands represent 73.1 percent of the total vehicles sales during 1H120.
Bestselling models during 1H20 belong to Nissan, GM, Volkswagen and KIA. Nissan has four models in the top: Versa (1st), NP300 (2nd), March (5th), and Sentra (10th). GM has three models: Beat (2nd), Aveo (4th) and Onix (9th). Volkswagen has Vento (7th) and Nuevo Jetta (8th) while KIA has Rio (6th).
In terms of financing, automotive credits were reduced by 26.1 percent compared to June 2019. Brand's financing branches continue to occupy the greatest share of the segment with 67.8 percent. As of this week, AMDA reported that dealerships in Campeche, Puebla and Sonora and some cities in Colima, Durango and Veracruz remained closed due to government's regulation.
You can read the full article on online sales here
"Uncertainty continues in the automotive market. Dealerships have made a really great effort to mitigate the negative impact of lockdown measures while attending companies remotely,” said Rosales. The situation has also boost digital sales of new and used vehicles. According to AMDA, digital sales have been up to 15 percent.
This phenomenon is spread throughout dealerships in Latin America. "The restrictions on economic activity by governments to limit the spread of the virus locally as well as the weakening global economic growth will result in an adverse external environment for the region’s economies, thereby debilitating business and consumer confidence. " said Guillermo Prieto, President of the Latin American Association of Automotive Distributors.
You can read Guillermo's Expert Opinion here: