Mexico City, Mexico — Recent figures from the Mexico automotive association shows an increase in production and exports for the month of November.
According to information from the Mexican Association of the Automotive Industry, vehicle production in Mexico rose 4.5 percent in November, while exports grew 11.9 percent.
Mexico exported 274,520 automobiles in November, 11.9 percent higher than what was registered in the same period last year, reported the Mexican Association of the Automotive Industry (AMIA).
Their report highlights that this was in Canada and Europe, where shipments increased 74.2 and 110.1 percent respectively, cushioning the reduction of 1 percent in shipments to the United States, the main market for cars manufactured in the nation.
In the eleventh month of the year, 332,439 cars were manufactured in the country, 4.5 percent more than what was registered in the same period of 2016.
Fiat Chrysler and KIA were the ones that increased their assembly of units in the country, 38.8 and 32.9 percent, respectively. This cushioned the reduction of production of 15 percent in the case of Volkswagen and 14.2 percent of Nissan.
Mexico has the potential to reach a production of 4 million cars in 2018 if the conditions of the global car market remain similar to 2017, said Eduardo Solis, president of AMIA.
The industrial representative said that the export of 3.2 million units can also be achieved the following year, but that it will depend on the demand in external markets, mainly in the United States.
“These figures are an expectation of what can happen in 2018. We cannot speculate what will happen in foreign markets as the country depends on what happens in the United States, where analysts from that country project that it can improve the sale of vehicles and in In this case, we will make adjustments upwards,” he explained.
Between January and November of this year, over 3.5 million cars were assembled in Mexico, 9.4 percent more than what was registered in the same period last year.