Monday, June 17, 2024

Auto exports to Italy tripled between January and November

Mexico tripled its auto exports to Italy between 2017 and 2018, making the European Union one of the top 10 growth markets for the industry.

Data compiled by the Mexican Automotive Industry Association (AMIA) showed that 42,575 vehicles were exported to Italy between January and November last year.

Still, Germany remains the strongest market for vehicles assembled in Mexico: 140,600 were shipped during the same period, a year-on-year increase of 61.3%.

The figures explain why Europe is the sixth most relevant region in the world for assembly firms that operate in Mexico.

Figures compiled by INEGI, the national statistics institute, show that the two most popular made-in-Mexico brands in Europe are Mazda and Fiat Chrysler, as both represent nearly all vehicle exports. The most popular models are the Mazda 2 and 3 and the Jeep Compass.

Closing off the list of the top 10 importers of automobiles manufactured in Mexico is China, to which 17,128 were exported between January and November, up 40.6% over 2017.

AMIA president Eduardo Solís Sánchez told the newspaper El Financiero that “the auto sector has positioned itself as one of the top sources of foreign currency in Mexico due to its exports.”

Source: El Financiero (sp)

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