Sales of new vehicles continue to fall

Figures from INEGI and the Mexican Association of the Automotive Industry (AMIA) show that the sales of new vehicles fell 7.7 percent in 2019. The 1.3 million units sold represented a drop of almost 100,000 units in comparison to 2018.

The macroeconomic environment, consumer confidence and the price of vehicles (and their associated costs) are to blame for the bad results, sector analysts said.

Of the 31 brands that reported figures to INEGI, more than half witnessed falling sales last year with high-volume manufacturers recording the worst results. Sales for the Japanese automaker Nissan dropped 14.1 percent compared to 2018, while General Motors and Volkswagen sold 10.2 percent 8.5 percent fewer respectively.

In contrast, small and medium volume brands had positive results. Renault sales increased 18.4 percent compared to 2018, Suzuki 18.3 percent, Peugeot 12.8 percent and SEAT sales rose 5.4 percent.

This is the third consecutive annual decline in sales of new vehicles and the sharpest drop since the 2009 financial crisis. The historical maximum recorded was in 2016, with 1.6 million units sold.