Light vehicles’ sales register the biggest drop in 25 years

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MEXICO – In May, 42,228 new vehicles were sold in Mexico, 59% less than that registered in the same period last year, the National Institute of Statistics and Geography (INEGI) reported.

This is the biggest drop in the industry for the same month in 25 years; vehicle sales in the fifth month of 1995 plummeted 75.1%.

"These results are given in the framework of the COVID-19 pandemic that plagues our country and that has negatively impacted the automotive market due to the social isolation measures decreed by the health authorities to deal with contagions, the mistrust and uncertainty generated among consumers and the deterioration of the economic conditions of many families, “said Guillermo Rosales, deputy general director of the Mexican Association of Automotive Dealers (AMDA).

Rosales pointed out that in order to sell vehicles, automotive companies have improved their ability to execute online sales, using information technology from dealers and finding greater consumer confidence in their performance.

Regarding accumulated figures, between January and May 373,608 vehicles were sold in Mexico, 30% lower than that registered in the same period last year, being the largest reduction in the sector since 2009, when it was the global economic crisis.

Source: El Financiero