New automotive gross sales in Mexico had greatest October in 5 years

Greater than 110,000 new vehicles have been offered in Mexico in October, the strongest efficiency for that month since 2018.

The 112,261 mild automobiles offered on the home market was a 12.2% enhance over October 2022. It introduced complete gross sales to this point this yr to almost 1.1 million, based on information from the Mexican Affiliation of the Automotive Trade and the nationwide statistics company INEGI.

The arrival of Chinese language manufacturers, together with JAC, has bolstered the home market in Mexico. (JAC)

Regardless of this progress, October’s gross sales have been down 4.9% from September, and barely beneath estimates by the Mexican Affiliation of Automotive Distributors (AMDA).

Nonetheless, AMDA president Guillermo Rosales stated that this was partly as a consequence of Mitsubishi having but to launch gross sales figures for the month and that AMDA expects these gaps to shorten as soon as these are included.

Trade specialists additionally famous that October’s automotive gross sales have been up 4.8% from the pre-pandemic yr of 2019, and marked 16 consecutive months of year-on-year will increase. Whole nationwide car gross sales for 2023 are anticipated to succeed in 1.3 million.

The trade hit a peak in 2016, however declined for a number of years afterwards, exacerbated by the results of the COVID-19 pandemic and subsequent provide chain disruption.

The United Auto Employees (UAW) strike in the USA has adversely affected the Mexican autopart trade – though gross sales of recent vehicles haven’t declined . (UAW/X)

Since 2021, nonetheless, home automotive gross sales have been recovering steadily, boosted by the sturdy efficiency of Mexico’s automotive trade and the arrival of reasonably priced, new Chinese language manufacturers to the market.

Regardless of inroads by new producers, conventional manufacturers Nissan, Basic Motors and Volkswagen nonetheless paved the way as Mexico’s hottest manufacturers, accounting for round 41% of complete mild car gross sales. 

Volkswagen confirmed significantly sturdy progress, rising its gross sales by greater than 100% from October 2022, based on the AMDA.

Whereas the strike by auto staff in the USA doesn’t seem like affecting automotive gross sales within the Mexican market, it’s having an affect on the auto components manufacturing sector, with order losses of as much as US $780 million.

With studies from El Economista and El Financiero

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