Mexico's Auto Sector to See Record Output, Exports in 2024
If current trends continue, light vehicle production in Mexico is expected to approximate the 2017 record level of 3.9 million units, while exports could reach the 2018 record level of 3.4 million units, he told a press conference.
The industry has recovered from the impact of the COVID-19 pandemic, while sales markets abroad have also grown, said Barquera.
Mexico's vehicle production exceeded 3 million units in the first three quarters of 2024, according to the AMIA director.
The Mexican industry will be closely watching the U.S. presidential elections in November, as well as the performance of the global economy, said Barquera.
The United States, Canada, and Germany receive around 92 percent of Mexico's vehicle exports, with sport utility vehicles (SUVs) and pickup trucks accounting for 80 percent of the total, according to AMIA data.
Mexico's automotive industry is one of the country's top generators of foreign direct investment.
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