Mexico’s auto production increases 6.2% in February; exports hike 11.2%
Light vehicle production in Mexico rose 6.2% annually in February, while exports grew 11.2%, the Mexican Association of the Automotive Industry (AMIA) reported.
Automakers established in Mexico manufactured 328,352 cars, light trucks and SUVs, a record number for a month in February, and sent 275,980 of those units abroad, according to the AMIA’s monthly report.
During the first two months of 2018 a total 632,107 units rolled out of Mexican facilities, up 6.1% compared to the 595,535 vehicles from the same period pf 2017. Exports totaled 507,068 vehicles, which represented an 8.5% increase.
Exports to the U.S. totaled 196,040 vehicles in February, that figure represents an 8.8% increase compared to same month of 2017 and a 71.0% of Mexico’s total auto exports. Year-to-date exports through February totaled 374,707 units, up 9.5% compared to the same two-month period of 2017 and a 73.9% of the Mexican auto exports overall.
According to Wards Auto, Mexico-made vehicles accounted for 15.2% of total U.S. auto sales during February and 15.3% of U.S. auto sales during the first two months of 2018.
Canada, which is the second most important destination for the country’s auto exports, received 21,847 Mexico-made vehicles in February, that figure represents a 3.5% decrease compared to the 22,636 vehicles shipped during the same month of 2017 and accounts for 7.9% of Mexican auto exports in February.
During the first two months of 2018, auto exports to Canada totaled 38,949 vehicles, accounting for 7.7% of Mexico’s shipments overseas and a 5.3% decline compared to the same period of 2017.
Germany is now the third most important destination for Mexico’s auto exports with 17,465 vehicles during February for a total of 24,961 units during the first two months of 2018, representing hikes of 164.2% and 100.2% respectively.
Shipments to Germany represented a 6.3% of Mexico’s auto exports during February and 4.9% of those made during the first two months of 2018.
Preliminary estimations of the AMIA indicate that the production will surpass this year the four million vehicles and that the exports would reach 3.2 million.