Mexican Car Market (PC + LUV) 2017
- The Mexican car market (PC + LUV) declined in 2017, for the first time since 2009. The decline reached 4.6% over the year, but it is especially in the last four months of the year that market fell (up to -13% in December), although the negative trend was already noticeable as early as the beginning of summer 2017. The break in growth was brutal. The registration volume recorded in 2017 thus fell to 1,530,000 units, compared to 1,604,000 in 2016. The beginning of the year 2018 shows no improvement, since the registrations in January fell by 11.5% compared to January 2017. Inovev therefore expects a decline in the Mexican market to less than 1,500,000 units for the whole of 2018.
- Most major automakers’ sales dropped in 2017 (except Hyundai-Kia, Toyota and Honda). The biggest falls are recorded at GM (-16.2%) and at Ford (-18.1%). Perhaps these two American groups are victims of the tension between Mexico and the US, a consequence of the economic policy of the Trump administration.
- The Renault-Nissan group consolidates its leading position in the Mexican market in 2017 (25.9% market share), ahead of GM (16.9% market share) and Volkswagen (15.3% market share). Next, far behind, are Hyundai-Kia (8.7% market share), Toyota (6.9%), Honda (5.9%), FCA (5.6%) and Ford (5,4%).
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