Mexican Auto Industry Sets Export Records in MarchBy Elliot Bullman
Automotive production soared 36% in March, highest recorded for any month amid concerns over access to U.S. market under Trump
Mexico set records for auto production and exports in March as the local industry benefited from new assembly plants, strong external and domestic demand, and the shift in the Easter holiday to April.
Automotive production and exports broke new records in March, soaring 36% and 32.7% respectively compared to March 2016.
The automotive industry produced 363,687 light vehicles last month, while exports totalled 297,571, said the Mexican Automotive Industry Association (AMIA). Both figures were the highest ever recorded for any month.
AMIA president Eduardo Solís cautioned that last year’s numbers were affected by Easter Week falling during March and technical work stoppages during the same month. Another factor is new competitors adding to the production output, he said.
Exports also broke a record in the first quarter with 750,000 units, up 14.2% over the same period last year. Eighty-five per cent of those vehicles were exported to the United States and Canada.
Domestic automotive sales also saw a big jump in March, setting a new record for the month with 137,012 units sold, up 17.2%.
Fiat Chrysler Automobil was the brand that increased its production the most in March, doing so at 95.8 percent, followed by Volkswagen with 46.8 percent and General Motors with 27.9 percent.
- Southwest Airlines inaugurates new international route to Cancun from New Orleans
- The Federal Aviation Administration has ordered airlines to inspect certain older CFM56-7B turbofan engines.
- North Korea 'halts missile and nuclear tests', says Kim Jong-un
- Frida Kahlo Barbie doll banned from shop shelves in Mexico
- NAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffs
- Mexico is second on world’s best places to retire list
- New video editing trend could be the future of ´fake news'
- Trump says North Korea talks under way but he may not meet Kim Jong-un
- Mexico’s candidates are avoiding talking about the elephant in the room: Pensions
- Elon Musk just sank more than $100 million into The Boring Company
- Netflix is soaring after it crushed subscriber growth targets yet again
- Starbucks: Protesters call for boycott after black men arrested