Mexico. Mexican automobile production grew 13.54% year-on-year in the first three quarters of 2023, showing the recovery of the country's main industry, the National Institute of Statistics and Geography (Inegi) reported.
Mexican plants assembled more than 2.85 million light vehicles from January to September, around 340,000 more than in the same period of 2022, INEGI detailed in its report.
"Light trucks accounted for 76.3 percent of the total produced, while the rest corresponded to vehicle manufacturing," the Institute said.
On the other hand, vehicle exports increased 14.22% year-on-year in the first nine months of the year, totaling 2.42 million.
On the other hand, domestic sales of light vehicles in the first three quarters of 2023 rebounded 24.94%, with 975,841 units sold nationwide.
The INEGI report revealed that, last September alone, car manufacturing in Mexico grew 23.99% year-on-year, totaling 338,899.
On the other hand, the export of vehicles in the ninth month of the year shot up to 15.99%, totaling 301,341 units.
Likewise, car sales in the domestic market grew 35.6% to 118,038 light vehicles.
According to the Mexican Association of the Automotive Industry (AMIA), the automotive industry represents almost 4% of the national Gross Domestic Product (GDP) and 20.5% of the manufacturing GDP, more than any other sector.
