Mexico’s auto production, exports reach new record high in November
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Last month, auto plants in Mexico manufactured 332,449 vehicles, the highest figure ever for a November and 4.5% more units than those built during the same month of 2016. From January through November, a record 3,527,321 cars and light trucks have rolled out of assembly facilities in the country, which means a 9.4% growth compared to the same 11-month period of 2016, revealed the Mexican Automotive Industry Association (AMIA) today.
During November Mexico exported 274,520 vehicles, mainly to the United States, an 11.9% increase and a record for an eleventh month of the year. Meanwhile, exports from January through November totaled 2,849,881 units, up 11.7% compared to last year and the highest ever for that 11-month period.
It is worth noticing that in the middle of uncertainty due to NAFTA’s renegotiation, global auto makers seem to be diversifying their exports markets. In fact, auto exports to the United States, Mexico’s main market, dropped 1% to 186,674 units during November, while shipments to other countries increased at three-digit pace in some cases.
For instance, exports to Canada, Mexico’s second biggest market, increased 74.2% to 33,535 units. Germany, which is now the third most important destination, received 10,878 Mexico-made cars in November, up 122.5%. Shipments to China skyrocketed 227.3% to 3,780 units, and Italy saw its imports from Mexico tenfold from 257 units in November 2016 to 2,705 vehicles last month (+952.5%).
Nonetheless, Mexican auto exports to the U.S. from January through November have grown 9.3% to 2,147,771 vehicles, a 75.4% share of total. Mexico’s November auto exports represented a 13.4% of the vehicles sold in the U.S. market last month, while on a year-to-date basis the figure increases to 13.8%.