Mexico Sets New Auto Production, Export Highs

December 07, 2017 at 2:49 AM

Mexico’s auto industry has already surpassed last year’s totals for the production and export of cars and light trucks, according to the Mexican Auto Industry Assn.

The country’s vehicle output rose 5% to 332,400 units in November and 9% to 3.53 million vehicles through the first 11 months of 2017. That total compares with output of 3.47 million units for all of 2016, The Wall Street Journal points out.

Mexico’s exports, 75% of which go to the U.S., climbed 12% to 2.85 million units in January-November, compared with 2.77 million exports in calendar 2016.

Domestic auto sales in Mexico shrank 9% to 154,600 units last month and are down 3% at 1.37 million units for January-November. The Journal says imports account for 59% of new-car sales in the country.

MAIA predicts that Mexico’s vehicle production and exports will climb to at least 4 million units and 3.2 million units, respectively, in 2018.