Thursday, May 23, 2024

Carmakers report ‘extraordinary’ jump in production and exports as Mexico becomes top exporter of cars to US

The production and export of light vehicles both increased by over 30% in September compared to the same month of 2021, data shows.

The Mexican Automotive Industry Association (AMIA) reported that 273,329 light vehicles were manufactured in Mexico last month, an increase of 31.4%, or 65,237 units, compared to September 2021.

Data from national statistics agency INEGI shows that 259,792 light vehicles were exported in September, an increase of 33%, or 64,498 units, compared to the same month a year earlier.

AMIA director Fausto Cuevas told a press conference that 196,638 vehicles – almost 76% of the September export total – were shipped to the United States last month.

Car carrier exports
Exports increased sharply in September thanks to greater U.S. demand. Depositphotos

“The favorable [export] result in September is due to the 9.5% increase in the sale of cars in the United States, where Mexican exports are significant,” he said. Cuevas called the production and export increases “extraordinary.”

General Motors was the No. 1 manufacturer and exporter of Mexican-made vehicles in September followed by Stellantis and Ford in both categories. GM has plants in México state, Guanajuato, Coahuila and San Luis Potosí.

Over 1.65 million Mexican-made cars were exported to the U.S. in the first nine months of 2022, an 8.6% increase compared to the same period of last year. Mexico was the leading exporter of cars to the U.S. between January and September, taking the top spot for the first time ever.

Exports to all countries totaled 2.12 million units in the same period, a 5.4% spike compared to the first nine months of last year.

Overall production of vehicles in Mexico also increased between January and September, rising 10% to 2.51 million compared to 2.28 million in the same period of 2021 when the semiconductor shortage was more acute.

While the production increase is good news, there is still some ground to make up to reach pre-pandemic levels, with output in the first nine months of the year 15.4% below that of the same period of 2019.

With reports from El Economista 

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