Mexican Truck Exports To U.S. Drop 14% In September 2024
Date
10/16/2024 6:27:04 AM
(MENAFN- The Rio Times) Mexico's heavy vehicle industry faced setbacks in September 2024 as exports to the United States fell by 14%. This decline affected the country's truck production, which decreased by 2.8% compared to September 2023.
The National Institute of Statistics and Geography (INEGI) released these figures, highlighting the sector's challenges. The automotive industry exported 12,459 trucks globally in September 2024, a 12% decrease from the previous year.
Of these, 11,734 units were sent to the United States, down from 13,627 in September 2023. Production figures also declined, with 16,860 units manufactured in September 2024, compared to 17,344 units in 2023.
Cumulative data for the first nine months of 2024 showed similar trends. Total exports reached 123,857 units, an 8% decrease from 2023. Production amounted to 162,096 units, a 3.6% decrease compared to the previous year.
Rogelio Arzate, president of the National Association of Bus, Truck, and Tractor Producers (ANPACT) , attributed the decline to political uncertainty and economic instability. He emphasized the importance of strengthening legal certainty and improving security in Mexico to boost industry confidence.
Despite these challenges, the sector remains resilient. Retail sales of heavy vehicles from January to August 2024 reached 37,122 units, a 9.88% increase compared to 2023. This growth indicates the industry's potential for recovery.
The heavy vehicle sector continues to play a crucial role in Mexico's manufacturing industry. Twelve companies assemble these vehicles, with production predominantly focused on cargo units.
As the industry navigates current challenges, stakeholders look towards government policies and economic stability to drive future growth and maintain Mexico's position in the global market.
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