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.
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