The Mexican market (PC + LUV) declined 7.1% in 2019
- The Mexican car market (PC + LUV) declined by 7.1% in 2019 to 1.32 million units, while it had already decreased by 7.2% in 2018 to 1.42 million units. This market has therefore been declining for two years continuously and at the same rate.
- We therefore observe the same type of scenario as in Canada, but there are however significant differences. First, the motorization rate is twice lower in Mexico than in Canada (nearly 350 cars per 1,000 inhabitants) and therefore the Mexican market theoretically has still significant development potential.
- Then, the Mexican market grew much faster than the Canadian market between 2010 and 2017 (year of sales peak), going from 650,000 to 1,530,000 units over this period (which represents an increase of 135%). During the same period, the Canadian market increased from 1,450,000 to 2,039,000 units (an increase of 40%). The difference in the motorization rate between the two countries may explain this growth gap.
- As a result, the decline in the Mexican market between 2019 and 2017 is much more brutal (-13.5%) than that of the Canadian market (-6%).
- By carmaker, the Renault-Nissan group remains the 2019 leader in Mexico sales (with 23% market share), ahead of GM (16%), Volkswagen (14%), Hyundai-Kia (11%) and Toyota (8 %). The Fiat-Chrysler group is behind (5%).
- SUVs represented 31% of the Mexican market in 2019, compared to 29% in 2018 and 27% in 2017.
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