Auto sales in Mexico decline for the ninth straight month; 7.2% in February
Sale of brand new light vehicles in the Mexican market totaled 109,484 units in February, 7.2% less compared to same month of 2017 and the equivalent of 8,492 less vehicles, reported the Mexican Association of Auto Dealers (AMDA). It was the ninth straight month of sales decline since June 2017.
Year-to-date sales through February totaled 218,629 vehicles, which represents a 9.4% decline compared to same two-month period of 2017. On that basis, market share for each brand remains as follows: Nissan 23.6%, Volkswagen 14.5% (including Audi, Porsche, Seat and VW brands), General Motors 11.1%, Toyota 8%, KIA 7.1%, Honda 7.1%, Fiat Chrysler Automobiles 6.7%, Ford 5.7%, Mazda 4.2% and Hyundai 3.6%. Most of the remaining 8.5% share goes to premium brands such as BMW and Mercedes-Benz, but it also includes brands with low-volume sales such as Peugeot and Suzuki.
The best-selling brands in volume, Nissan, Volkswagen and General Motors, they all posted declines of 15.4%, 20.5% and 19%, respectively.
By contrast, Asian automakers such as Honda, Hyundai, KIA, Mazda, Suzuki and Toyota saw sales increases of 13.5%, 21%, 18.5%, 14.7%, 42% and 0.2%, respectively.
Guillermo Rosales, deputy general director of AMDA, said that auto dealers expect sales to remain weak during the first half of the year due to greater uncertainty as the Mexican presidential election approaches and the renegotiation of the North American Free Trade Agreement (NAFTA) is delayed.
“In addition, the increase in interest rates and inflation affect the purchasing capacity of middle-income consumers, which generates fewer potential customers with the will to acquire a new vehicle,” Rosales added.
By the end of the year, AMDA estimates sales of 1,453,000 units in the worst case scenario and 1,530,000 vehicles in the best case scenario.
– US auto sales fall 2.4% during February on lower incentives and higher interest rates
– This is how auto sales ended up during February over the NAFTA region
– This is how auto sales ended up in 2017 over the NAFTA region