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The global automotive industry closed 2021 with a value of around 2.6 trillion dollars.
53 percent of automotive industry experts estimate that it will experience substantial growth over the next five years.
The total sale of cars in Mexico in 2021 was one million 014 thousand 680 units.
The automotive industry is very important worldwide, so there is a large ecosystem of brands in the market. A new study revealed that Mexico is the country in which owning a car is more expensive, compared to other nations.
According to the industrial consultancy IBIS World, the global automotive industry closed 2021 with a value of around 2.6 trillion dollars, an increase compared to its value in 2020, the year in which the industry suffered the onslaught of the Covid-19 pandemic.
In Mexico, according to data from the National Institute of Statistics and Geography (INEGI), Total car sales in Mexico in 2021 were 1,014,680 units, which represented an increase of 6.8 percent, compared to 2020 figures. However, it continued with 23 percent below 2019, the year before the pandemic, which reported 1,317,931 units sold.
In which country is it more expensive to buy a car?
Data from the FINN Global Cost of a Car study, a car subscription platform in the United States, positioned Mexico as the country in which it is more expensive to have a car.
Those in charge of the investigation highlighted that in order to arrive at the results, fuel prices had to be analyzed as a proportion of the average monthly salary and which countries are spending the highest percentage of their salary on these cars.
So the results showed the countries where it is more expensive to have a car, where Mexico leads the most expensive with a car cost score of 9.70 out of 10.
“The country ranks first thanks to its high fuel costs, ranking first in the factor and has the third highest cost of its most popular car, the Nissan Versa, compared to median income as well,” explains the study.
In that same order, the second and The third most expensive country to own a car was Estonia with 8.79 and Latvia with 8.64.
On the other hand, the list of countries where it is cheaper to own a car is led by Luxembourg with a score of 0.46 out of 10. The studio, there, is the most affordable place overall to buy and operate the most popular car, the Volkswagen Golf.
And the other two countries within the top 3 countries where it is cheaper to have a car are the United States with a score of 0.91 and Australia with 1.97.
In the same context, the study also found the countries where gasoline is most expensive, and Mexico leads the list despite being one of the countries with the cheapest fuel prices in real terms. Where drivers spend the largest proportion of their average monthly income on fuel. Per liter, the fuel costs 0.22% of the average monthly salary, according to the study.
With these lists you can find out what the global outlook for an industry is, and more so in these two years, when many sectors are recovering from the Covid-19 pandemic.
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