Mexico produces fewer passenger cars and more light trucks in 2018
- In 2018, Mexican production of passenger cars declined sharply, while Mexican production of commercial vehicles (SUVs, minivans and pickups) grew strongly, as can be seen in the two graphs below.
- Over the first eight months of 2018, Mexican passenger car production declined by almost 25%, while at the same time, light commercial vehicles grew by almost 25%. Overall, all Mexican production remained stable at + 0.1%.
- The explanation for these two reverse trends is that exports to the United States (which account for 80% of Mexican production) are changing, with exports of passenger cars (sedans) down 20%, and exports of light commercial vehicles (SUVs, minivans and pick-ups) having increased by 18%.
- Indeed, the US market is increasingly abandoning sedans (sales are down 13% in the first 8 months of 2018) while demand for light trucks increases significantly (sales are up 9% over the first 8 months of 2018).
- In the first eight months of 2018, Mexico exported 1.46 million light trucks to the United States (compared to 1.24 million in the first eight months of 2017) and 688,000 sedans (compared with 864,000).
- In total, Mexican exports to the United States (all vehicles combined) grew by 2% in 2018 compared to last year.
Contact us: info@inovev.com