Car production in Mexican plants grew 9.85% year-on-year in February to 295,787 unitsthe National Institute of Statistics and Geography (Inegi) reported on Monday.
In addition, the export of light vehicles increased by 14.18%up to 230,484, and sales in the domestic market shot up 28.03% to 101,911according to the report of the autonomous institute.
In this way, the manufacture of light vehicles in Mexico accumulates a year-on-year growth of 6.07% in the first two months of 2022 and national sales register a growth of 24.11%.
During January-February 2023, 196,325 light vehicles were sold. In this same period, 576,053 units were produced in Mexico. Light trucks represented 77.4% of the total produced. The rest corresponded to the manufacture of automobiles”, detailed the Inegi.
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While, exports of cars made in Mexico have increased 11.98% so far this yeara total of 468,619 units.
Expectations begin for the arrival of Tesla
These data are disclosed a week after the announcement of the investment of nearly 5,000 million dollars by the American company Tesla to install in Nuevo Leónin northern Mexico, an electric car plant that will be the largest in the world.
The importance of the automotive industry for Mexico lies in the fact that it represents almost 4% of the national gross domestic product (GDP) and 20.5% of manufacturing GDP, more than any other sector, according to the Mexican Association of the Automotive Industry (AMIA).
The information from the Inegi comes from 22 companies affiliated with AMIA, Giant Motors Latin America and Autos Orientales Picacho.
Industry recovery continues in 2023
After two years of falls and scarcity of inputs, The Mexican automotive sector rebounded in 2022 with an annual growth of 9.24% in production5.86% in exports and 7.03% in sales.
In 2020, vehicle production and exports fell by more than 20% amid the Covid-19 pandemic, which forced the closure of this industry during the first months of the outbreak.
While in 2021, manufacturing fell 2% annually due to a shortage of semiconductor chips, and exports rose just 0.94%.
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