Auto exports in Mexico fell by 13.74% in January

MEXICO - Mexico's auto exports fell by 13.74% year-on-year in January despite a 1.68% rise in production, the National Institute of Geography and Statistics (Inegi) reported.

Mexico exported 219,414 light vehicles in the first month of the year, almost 35,000 less than in the same period of 2024, but manufactured 312,257 units, nearly 5,000 more, the autonomous institute detailed in its report.

The fall in exports of the automotive sector, the country's largest industry, occurs in the midst of the arrival on January 20 of Donald Trump to the presidency of the United States, where he has warned of tariffs that would particularly impact the manufacture of cars and auto parts.

“The United States was the main destination for light vehicle exports, with 83.6%,” Inegi noted.

On the other hand, vehicle sales in the domestic market rose 5.94% year-on-year in January to 119,811 units.

According to AMIA, the importance of the automotive industry in Mexico lies in the fact that it represents almost 4% of the national gross domestic product (GDP) and 20.5% of the manufacturing GDP, more than any other sector.

Auto production and exports in Mexico rose by more than 5% in 2024, which represents three years of growth in the wake of the Covid-19 pandemic and the shortage of inputs.