Mexico’s auto sales drop 10.2% in October
Auto dealers in Mexico, struggling a market weakened by natural disasters, sold 123,318 new vehicles in October, which represented a 10.2% drop compared to same month of 2016, according to figures released by the Mexican Automotive Industry Association (AMIA).
From January through October auto dealers sold 1,230,166 new cars and light trucks, representing a 2.1% decrease compared to the same ten-month period of 2016. October also marked the fifth month in a row of negative results.
The lower sales were attributed to high inflation that impacted the price of automobiles, credit restrictions and adjustments in consumer behavior and confidence due to the earthquakes occurred last September.
Nissan, which is the best-selling brand in the country, saw its sales decline 23.5% to 27,277 units, to keep a leading 24.1% market share. From January through October sales of the Japanese automaker totaled 296,276, which represents a 6.1% drop compared to the same ten-month period from a year ago. Nissan sales do not include those of its premium brand Infiniti.
General Motors followed far behind with a 16.5% market share to sales of 21,829 units in October and year-to-date deliveries of 203,516 vehicles, representing declines of 14.3% and 12.9% respectively. GM sales include those of its Buick, GMC and Cadillac brands.
Volkswagen was third best-selling automaker in October with a 15.5% market share to 18,739 units and year-to-date sales of 191,035 vehicles, down 8.9% and 5.3% respectively. VW sales figures include those of the VW, Audi, Porsche and SEAT brands.
Among those few brands which reported positive results is Kia, which posted a 26.5% gain in October sales to 7,603 units. The Korean automaker has sold 70,818 vehicles in the Mexican market this year, a figure which represents a 51.9% hike. Kia is now the sixth best-selling brand in Mexico with a 5.8% market share, above Honda (5.7%) and Ford (5.5%).
Kia’s sister brand Hyundai also kept a strong pace in October with 4,303 vehicles delivered, meaning a 33.8% boost. Year-to-date sales totaled 36,304 units through October, a 22.7% increase.
The premium market experienced mixed results, with Mercedes-Benz leading the positive trend to 1,443 vehicles sold in October, a skyrocketing 36.9% increase, and year-to-date sales of 13,816 units, up 23.7%.
Audi followed close with 1,314 vehicles sold in October, up 17.5%. But its year-to-date sales are still on negative territory with a 7.5% loss to 11,445 units.
BMW saw its sale fall 13.9% in the tenth month of the year to 1,207 vehicles. But the German automaker managed to keep positive results on a year-to-date basis with 13,021 units sold through October, or a 9.4% increase. Those figures do not include the Mini brand, which sold 457 units in October and 4,805 vehicles in the first ten months of the year, representing a 18.7% decrease and a 0.7% increase respectively.