Auto production in Mexico grows, exports fall

Vehicle production in Mexican plants grew by 2.7 percent in July year-over-year, but exports fell by 1.6 percent, according to the report issued by the National Institute of Geography and Statistics (Inegi).

According to the report, 302,309 models were manufactured, and 271,469 units were sold abroad. Domestic market sales increased by 12.5 percent, reaching 124,761 vehicles.

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In the accumulated January-July period of 2024, 2.2 million units were produced, representing a 4.9 percent annual growth, and car exports have increased by 8.44 percent so far this year, totaling 1.9 million units.

Regarding Tesla's decision to pause the construction of its plant, Barquera commented that Mexico remains attractive for automotive sector investment, as evidenced by the 13 companies that have decided to locate in the country over the past 30 years.

The president of the Mexican Association of Automotive Distributors (AMDA), Guillermo Rosales, highlighted that domestic sales in July recorded the seventh positive rate of the year, rising by 12.6 percent with 124,761 units.

Auto Parts

The National Auto Parts Industry (INA) reached a new peak of 11.029 billion dollars in sales in May 2024 and projects that the sector will close 2024 with 126.149 billion dollars, an increase of 4 percent compared to 2023, setting a milestone for the country. Michelle Sagrero, INA's Communication Manager, emphasized that the United States absorbs 87 percent of its international sales.

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