Sunday, February 16, 2025

Auto sales slump: dealers chalk up 26 months of declining sales

Domestic auto sales continued their long downward slide in July with a 7.9% decline in sales compared to July 2018. It brings to 26 the number of months sales have been dropping.

Auto dealerships sold 105,699 cars in July, the lowest July sales since 2009, according to data collected by the national statistics institute, Inegi. They sold 744,296 vehicles from January to July, down 6.6% from the same period last year.

The industry expects the trend to continue for the rest of 2019, which would make this year the third consecutive year of declining auto sales.

The July slump did not affect all brands equally: Nissan, the market leader, saw a 14.5% decline and General Motors and Volkswagen fell 5.6% and 7.2% respectively.

On the other hand, Suzuki and Mitsubishi both saw significant gains. Their sales were up 29.3% and 26% respectively.

Guillermo Rosales, general manager of the Mexican Automotive Dealers Association, said negative influences such as rising debt, declining purchasing power and a pessimistic outlook for the political and economic future have only deepened in recent months.

Source: Expansión (sp), El Financiero (sp)

An aerial view of the hotel Excellence Coral Playa Mujeres

Massive new Playa Mujeres resort expected to create 3,000 jobs

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The US $220-million, all-inclusive resort features 470 rooms, seven pools and a spa.
A cockroach like those you can name after your ex at the Nuevo Laredo Zoo

This Valentine’s Day, feed your cockroach ex to the animals at the Nuevo Laredo Zoo

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The Nuevo Laredo Zoo is offering a creative way to get back at your least-favorite ex.
Soldiers guard a burned out car (narco blockade) in rural Sinaloa

New York Times: US will designate 6 Mexican cartels as terrorist groups

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Among the most powerful of the Mexican cartels expected to receive the designation are the Sinaloa Cartel and the Jalisco New Generation Cartel.