Auto exports slow down in February, according to official data
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Automakers with manufacturing operations in Mexico exported 271,075 light vehicles in February, according to official data from the National Institute of Statistics and Geography (INEGI). This figure represents a marginal decrease of 0.1% compared to 271,228 units shipped in the same month of 2018.
Total exports for the first two months of 2019 were 513,374 units, which is still a 2.2% gain compared to the 502,316 vehicles from the same period of last year.
It’s worth noting that, just like in its auto production brief, INEGI data does not takes into account Mercedes-Benz exports, which started assembly operations in the third quarter of 2018 at the Cooperation Manufacturing Plant Aguascalientes.
During the first two months of 2019, Mexico auto exports to the United States, its main destination, were of 403,172 vehicles, representing a 7.6% increase. Meanwhile, auto exports to Canada, second most important destination, totaled 34,694 units, which is 10.9% less than a year ago. Exports to Germany, third most important market for Mexico, were of 20,133 vehicles, which represents a 19.3% decline.
Automakers who saw the biggest export increases in February were Nissan and Toyota of 23.2% in both cases, followed by Ford and Volkswagen with 14.6% and 14.1% respectively.
Other manufacturers with exports growth were Honda and its 10.6% hike; Kia, 3.2% and Audi with 1.9%.
On the other hand, automakers with the steepest export declines were Mazda with 77.6%, likely due to a transition for the manufacture of the next-generation Mazda3 sedan, General Motors with a 12.3% drop and Fiat Chrysler Automobiles, 5.6%.