The production of vehicles in Mexico could reach 3.5 million units in 2022
- Mexican vehicles production (Passenger Cars +Utility Vehicles), after continuous growth between 2010 and 2017, gradually rising from 2 million vehicles to 4 million, experienced a decline from 2018 which intensified in 2020 in due to the Covid crisis, thus falling to 3 million units. The year 2021 did not allow a relaunch of the production volume.
- The first five months of 2022 (1,45 million units/+7%) indicate that we could reach the 3.5 million units this year, thus posting a good performance which contrasts with the results expected in the United States and Canada, which should experience a sluggish situation in terms of their production volume.
- Mexican production is mainly destined to export, which represents nearly 90% of local production and whose three main destinations are the United States (75% of the total), Canada (7% of the total) and Germany (5% of the total). However, it is not exports that have driven production over these first five months as they are stable compared to the first five months of 2021. It is above all production for the local market which has increased (+31.4%).
- Among the carmakers present in Mexico, which ones are progressing the most in 2022? The brands that are growing the most are Ford (+50%), Mazda (+33%), Audi (+32%), Toyota (+21%), GMC (+12%) and Kia (+10%). The Chevrolet, Ram (ex-Dodge) and Honda brands are stable. Finally, the brands that are declining are the following: Mercedes (-1%) and above all Volkswagen (-19%), BMW (-24%) and Nissan (-27%). The latter was for many years the largest car producer in Mexico, after the prosperous period of Volkswagen, this is no longer the case in 2022.
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