Mexico auto exports increase 5.8% from January through November, says Inegi data
Automakers with manufacturing operations in Mexico exported 273,763 light vehicles in November, according to data from the National Institute of Statistics and Geography (Inegi). That figure represents a 5.8% decline compared to 290,569 units exported in the same month of 2017.
It is worth noting that the report does not include data from Toyota, who provided Inegi with November production figures, but omitted exports. There is also missing data on Mercedes-Benz, which started assembly operations last September in Aguascalientes, but has not provided the Inegi with production or export figures.
Despite the lack of such data, accumulated exports of the Mexican automotive industry from January through November totaled 3,157,937 units, representing an increase of 5.8% compared to 2.98 million light vehicles shipped overseas in the same 11-month period of 2017.
According to the Inegi, from January to November, 2.33 million vehicles were shipped to the United States, which is the main market for Mexico’s auto exports. That figure is 8.5% higher compared to 2017 data and represents 73.85% of total Mexican exports, as well as 14.85% of the 15,695,288 vehicles sold in the U.S. over that same period.
Following far behind as second auto exports destination is Canada, which received 233,898 Mexico-made light vehicles from January to November. The figure is actually 7.3% lower compared to same data from 2017. Germany ranks third on the list with 140,660 units, which represents a 61.3% increase.
Among the automakers who saw their exports decline in November were General Motors with 6.7%, Audi with 7.9%, Volkswagen with 10.4%, Fiat Chrysler Automobiles with 11%, Mazda with 25.7% and Honda with 27.7%.
Those who posted export increases were Nissan with 13.1%, Ford with 37.1% and KIA/Hyundai with a skyrocketing 51.6%.