Mexican Light Vehicle Production Increases
Mexican automakers produced 240.479 vehicles in Feb. 2022, an increase of 0.6 percent compared to last year’s February, reported the National Institute of Statistics and Geography (INEGI). However, exports decreased by 5.6 percent during the same period.
INEGI’s Administrative Registry of Light Vehicles of the Automotive Industry shows that between Jan. 2022 and Feb. 2022, 493,845 light vehicles were produced, representing a variation of -23,762 compared to last year’s period. In February alone, 240.479 vehicles were produced, meaning 1,575 more units than in 2021. From the total light vehicles, 76.9 percent of the total units produced were light trucks and the rest were automobiles. The automakers that produced more vehicles were Nissan with 41,378 units, followed by General Motors with 36, 703 units and Stellantis with 28, 468. RAIAVL uses information from 22 companies affiliated to the Mexican Association of the Automotive Industry (AMIA), Giant Motors Latin America and Autos Oriental Picacho.
The numbers are great news for the industry after production suffered its worst January since 2014 (when 249,400 vehicles were produced). In Jan. 2022, the industry produced 253,366 units , as reported by MBN.
However, exports decreased from 213,987 in Feb. 2021 to 201, 868 this February, a -5.66 percent variation. Also, between Jan. and Feb. 2022, 418,498 units were exported, a -4.3 variation from 2021.
During Feb. 2022, 79,600 units were sold within the domestic market, a difference of -3.9 percent from 2021. And between Jan. and Feb. 2022, 158,185 light vehicles were sold. Nissan, General Motors and Volkswagen were the automakers that sold more units.
These numbers make Feb. 2022 the Mexican automotive industry’s worst February since 2012. Although light vehicle sales grew month-to-month by 1.29 percent in Feb. 2022, they are still 25.97 percent below their average for a February. With this contraction, the automotive industry has accumulated 6 months of accumulated falls. The low sales are a result of the disruption of the sector’s supply chain due to the pandemic, among other factors, as reported by MBN.