Exports of light vehicles drop 3.4 percent
After a decade of sustained growth, exports of light vehicles from Mexico fell 3.4 percent last year in comparison to 2018, INEGI has reported.
Foreign markets purchased 3 million 333,586 Mexican-made light vehicles in 2019. The top destination was the US, which accounted for 80 percent of the exports. This means some relief for Mexico considering that the massive US market was one of the few with positive sales results in 2019, rising 2.9 percent in comparison to 2018.
Poor sales in other markets like Canada, Latin America, Europe, Asia and Africa affected Mexican exports.
The 12 automotive companies manufacturing in Mexico produced 3 million 750,841 light vehicles in 2019, representing a 4.1 percent drop in comparison to 2018.
Figures released yesterday also showed that the sales of new vehicles in Mexico fell 7.7 percent in 2019. Domestic sales represent only 14 percent of the national production.
Nissan and FCA Mexico drag production
Seven of the top 10 manufacturers in Mexico had negative production figures in 2019 while Honda and GM showed positive production figures. (Light vehicle production. Figures in thousands of units)