export from light vehicles They reached their best level since November 2020 in March, according to the National Institute of Statistics. (Inegi) published this Tuesday.
According to the Administrative Register of the Automobile Industry of Passenger Cars (RAIAVL), In the fifth month of 2023, 279,274 vehicles of this type were exported to the national market. This is an increase from 253,335 in April and 272,687 in March.
In turn, for the period January-May 2023, 1,273,915 units were reported shipped abroad.
With figures released on Tuesday, the indicator also showed that in May sold 106 thousand 798 cars in the country. This is equivalent to year-on-year growth for 12 consecutive months.
In February 2023 alone, the sales figure was 101,911 units, while in January 94,414 were reported. In May 2022, 91,215 such products were sold.
From my side, production vehicles increased to 342,566 units compared to 293,141 in April. However, this is less than created in March, when this figure amounted to 346,124 units.
On an annualized basis, production increased by 24.97%, while exports increased by 14.16% and sales by 17.08%.
During January-May 2023, 519,534 passenger cars were sold in Mexico and 1,560,928 units were produced in Mexico during the same period. Light trucks accounted for 77.2% of total production, with the remainder coming from automobile production.
Significance of the automotive industry for Mexico is that it is almost 4% gross domestic product (GDP) national and 20.5% of manufacturing GDP, more than any other sector, according to Mexican Association of the Automotive Industry (AMIA).
After two years of decline and lack of resources, Mexico’s automotive sector rebounded in 2022 with annual growth of 9.24% in production, 5.86% in exports and 7.03% in sales.
In 2020, the production and export of cars fell by more than 20% amid COVID-19 pandemic, which forced the closure of this industry in the early months of the outbreak.
While in 2021 production it fell by 2% a year due to a shortage of semiconductor chips, while exports grew by only 0.94%.
Inegi analyzes 22 companies associated with AMIA, Giant Motors Latin America and Autos Orientales Picacho. This includes 35 brands and models that are made and/or sold in Mexico.
Five brands accounted for more than 50% of March sales, according to their results released Tuesday. First place was taken nissan, from 20 thousand 45, and then General Motors, with 13 thousand 647. In third place Volkswagen, from 9 thousand 67, while the brand was positioned in fourth place Toyota, from 8 thousand 334, then KIA, from 7 thousand 803.
In terms of production, the brands that top the list are General Motors with 69,327, Nissan with 56,659 and stellantis, from 40 thousand 521.
(As reported by EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
