Friday, August 8, 2014

México: Auto Production, Exports Reach Record Highs, Domestic Sales Grew Only 1.3%

According to The Latin American Tribune, México’s auto production and exports in the first seven months of 2014 hit record highs, rising 7.5% and 11.2%, respectively, from the same period of last year.

The AMIA industry association said both output and exports of light vehicles climbed to historically high levels, “both for the month and the cumulative” January-July period.

In the first seven months, automakers manufactured 1.85 million vehicles, “83.1% of which correspond to units destined for export and the remaining 16.9% for the domestic market.”

A total of 1.5 million vehicles were exported during that same period, 71.5% of them to the United States.

Domestic sales grew just 1.3% to 596,571 units in the year’s first seven months.

COMMENT: Automakers operating in México not only sell vehicles they produce, but also those imported from subsidiaries in other regions of the world.

Between January and July, the largest-selling car brands in México were Nissan (151,106 vehicles), General Motors (115,419) and Volkswagen (88,798).

In July, auto production rose 8.5% from the same month of last year to 259,634 units, while exports climbed 20.2% to 231,934 vehicles.

A total of 96,211 vehicles were sold domestically last month, an 11% increase over July 2013.

Chrysler, Fiat, Ford, General Motors, Honda, Nissan, Toyota and Volkswagen are the largest automakers in Mexico.