Mexico’s heavy vehicle sales increase in 2024

MEXICO - During 2024, wholesale sales of heavy vehicles generated by the automotive industry of cargo and passenger vehicles established in Mexico exceeded its historical record and positively improved the projections made at the beginning of the year, informed the National Association of Bus, Truck and Tractor-Truck Producers (ANPACT).

“As we had anticipated, the sector has exceeded all expectations, thus, 2024 is a historic year. By concluding with 67,704 units sold, we not only exceeded annual estimates by 37.1%, we also surpassed by 22.3% our previous record year of 2023,” explained Virginia Olalde López-Gavito, director of Foreign Trade and Economic Studies of the association.

Referring to the January-December accumulated production and exports, Olalde said that the period ended at 213,241 and 159,466 units, which means decreases of 4.3% and 10.2% in each case.

“Both manufacturing on Mexican soil and shipments to other countries were affected by the decline in demand in key countries such as the United States, Colombia, Peru and Chile,” Olalde said.

In terms of heavy unit production in Mexico, although 2024 did not exceed the figures of the previous year, which was historic, it did exceed by 5.5% the units produced in 2019, making it the second record year for the heavy vehicle automotive industry in Mexico.

Regarding the monthly indicator of wholesale sales, Virginia Olalde indicated that the increase was 71.4%; while referring to the production and exports of the last 31 days of the year, she detailed that the decreases were 13.7% and 25.7%, due to the fact that they totaled 15,644 and 10,664 vehicles.