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Mexican Automotive Industry Achieves Record Production In August
(MENAFN- The Rio Times) In August, despite Political distractions and economic slowdown concerns, the Mexican automotive industry excelled, setting a new production record. Throughout the year, this sector has shown remarkable growth.
By the end of August, production had increased by 5.3% over the previous year, totaling 2,651,060 vehicles. This figure slightly exceeds the 2019 record by 0.3%, or 7,172 vehicles.
August's production spike was especially significant, marking an 8.3% increase to 352,615 light vehicles. This surge positioned it as the third-highest monthly increase for the year, trailing only behind April's 21.7% and January's 9.6%.
Although robust, export figures from January through August did not surpass 2019 levels, increasing by 7.4% to 2,275,761 vehicles. This still fell short by 2.4%.
The record year for production was 2017, with 3,933,154 light vehicles assembled. The peak for exports was in 2018, with 3,451,157 units shipped.
However, projections for 2024 are optimistic, indicating it could be the third-highest production year ever, potentially exceeding 3.8 million vehicles.
Exports are also expected to approach the 3.2 million mark in 2017, with sales nearing 1.5 million vehicles.
August Production Highlights
In August, Nissan led the production charge, outpacing General Motors to take the monthly lead-a shift not seen in a year.
Nissan's production climbed by 7.6% to 64,449 vehicles. Meanwhile, GM's production jumped by 17.1%, yet it matched Nissan's due to a lower baseline.
Other key players saw mixed results. Chrysler produced 39,432 vehicles, a decrease of 10.9%. Conversely, Volkswagen and Ford saw gains of 8.1% and 40.4%, respectively.
Despite these monthly variations, GM retained its lead in year-to-date production, totaling 566,220 vehicles.
This strong performance underlines the resilience of Mexico 's automotive sector amid global uncertainties. The industry plays a crucial role in the national economy and significantly impacts the global automotive market.
By the end of August, production had increased by 5.3% over the previous year, totaling 2,651,060 vehicles. This figure slightly exceeds the 2019 record by 0.3%, or 7,172 vehicles.
August's production spike was especially significant, marking an 8.3% increase to 352,615 light vehicles. This surge positioned it as the third-highest monthly increase for the year, trailing only behind April's 21.7% and January's 9.6%.
Although robust, export figures from January through August did not surpass 2019 levels, increasing by 7.4% to 2,275,761 vehicles. This still fell short by 2.4%.
The record year for production was 2017, with 3,933,154 light vehicles assembled. The peak for exports was in 2018, with 3,451,157 units shipped.
However, projections for 2024 are optimistic, indicating it could be the third-highest production year ever, potentially exceeding 3.8 million vehicles.
Exports are also expected to approach the 3.2 million mark in 2017, with sales nearing 1.5 million vehicles.
August Production Highlights
In August, Nissan led the production charge, outpacing General Motors to take the monthly lead-a shift not seen in a year.
Nissan's production climbed by 7.6% to 64,449 vehicles. Meanwhile, GM's production jumped by 17.1%, yet it matched Nissan's due to a lower baseline.
Other key players saw mixed results. Chrysler produced 39,432 vehicles, a decrease of 10.9%. Conversely, Volkswagen and Ford saw gains of 8.1% and 40.4%, respectively.
Despite these monthly variations, GM retained its lead in year-to-date production, totaling 566,220 vehicles.
This strong performance underlines the resilience of Mexico 's automotive sector amid global uncertainties. The industry plays a crucial role in the national economy and significantly impacts the global automotive market.
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