Mexican automotive industry on track for expansive recovery

MEXICO - The automotive industry in Mexico is experiencing a remarkable recovery and expansion phase, following the challenges imposed by the covid-19 pandemic.

Despite having delayed its initial production targets due to the global health crisis, the sector is close to reaching the 5 million units manufactured mark, a goal that was expected to be met by 2020.

This year, production is projected to close between 3.9 and 4 million vehicles, surpassing pre-pandemic levels and consolidating Mexico as the seventh largest automobile producer worldwide.

The pandemic caused significant disruptions in supply chains and stoppages in industrial activity, preventing Mexico from reaching the target of 4 million units in 2020. Nevertheless, the gradual recovery of the sector has been evident and promising.

During the first six months of this year, Mexico assembled 1,996,136 vehicles, according to data from the National Institute of Statistics and Geography (Inegi). June stood out with the production of 344,206 units, the highest figure for this month in the last six years.

Odracir Barquera, Director of the Mexican Automotive Industry Association (AMIA), stated at a press conference that the year is expected to close with a production of close to 4 million vehicles.

“We are approximately at two million vehicles in this first half of the year, so surely in 2024 we will surpass 2019 production,” he commented optimistically about the future of the sector.