Mexico’s auto production, exports reach new record high in 2017
In 2017, auto plants established in Mexico manufactured 3,773,569 cars and light trucks, and exported 3,102,604 of those vehicles, each figure represents a new record high and a growth of 8.9% and 12.1% respectively.
Eduardo Solis, president of Mexican Automotive Industry Association (AMIA), said that despite all the uncertainty around the renegotiation of the North America Free Trade Agreement (NAFTA) exports grew at its highest rate since 2011, boosted in great part due to an increase in auto imports by the United States, Mexico’s main market.
“We not only exported more vehicles to the rest of the world, but also to the United States, with an increase close to 10%,” he said.
Solis highlighted that almost 14% of the vehicles sold in the United States are assembled in Mexico, the largest share ever achieved by the Mexican sector in history.
Another market that increased its imports of Mexican cars was Canada with 8.5%, remaining as the second most important destination for vehicles.
The companies that increased their production the most were KIA with 106%, followed by Fiat Chrysler Automobile (FCA) with 39.1%, Solis said.
The AMIA forecasts the Mexican automotive industry will produce 4 million cars in 2018, 10% higher than the 3.7 million that occurred during 2017.
The representative of the auto sector highlighted that the figure will be possible due to a greater production by Nissan, which just started manufacturing vehicles for the premium segment at its new plant in Aguascalientes, and other automakers that are expanding its capacity.