New car sales in Mexico closed 2024 with a 9.8% growth rate

MEXICO - New light car sales in Mexico closed 2024 with its best result in seven years, Inegi reported.

The country's agencies placed 1.49 million units during the whole of last year, a figure 9.8 percent higher than that recorded in 2023.

The result meant a deceleration for the sector, after growth in 2023 was 24.4 percent at annual rate.

Nevertheless, this is the third best annual record in history, only behind those reported in 2016 and 2017, and with this result, the automotive industry linked four years of growth.

In 2024, brands such as Mitsubishi, Volkswagen, Toyota, Susuki, Mazda and KIA stood out, with double-digit sales growth in annual comparison.

In December alone, the industry sold 146,365 new vehicles, 1.9 percent more than in the last month of the previous year.

Guillermo Rosales Zárate, executive president of the Mexican Association of Automotive Distributors (AMDA), highlighted that at the close of 2024, the market was positioned 13.6 percent above the sales levels of 2019, prior to the pandemic.