Vehicle production in Mexico broke the positive trend of the last 19 months, decreasing in December by 9.9 percent, year-over-year, to 215,923 units. This volume is also the lowest volume in the last 27 months, according to SteelOrbis' analysis of data from the national statistics agency Inegi.
The average production of vehicles in the first 11 months of the year was 323,936 units, a figure that contrasts with the 215,923 units in December. These two data represent a difference of 33.3 percent.
Of the total December production, 71.3 percent was contributed by five companies: General Motors (19.6 percent), Nissan (16.6 percent of the total), Stellantis (14.6 percent), Ford Motor (12.7 percent) and Kia (7.8 percent).
In December, they stood out for the increase in their production: Mercedes Benz with an annual increase of 75.3 percent, Honda with an increase of 73.9 percent and Ford Motor with a rebound of 21.3 percent. In contrast, Toyota production was down 89.7 percent, Audi down 45.0 percent, Volkswagen down 35.0 percent.
In exports, although they were below 300,000 units, in December 282,316 units were exported, 16.0 percent, year-over-year. Considering only the month of December, 2023 registered a new historical maximum.
Five companies contributed 71.7 percent of total exports: General Motors remains the export leader with 25.8 percent of the total, followed by Stellantis with 12.3 percent, Nissan also with 12.3 percent, Ford Motor with 11.6 percent and Volkswagen with 9.8 percent.
In exports, three companies stood out: Nissan increased its production by 129.8 percent, year-over-year. Honda reported an increase of 70.5 percent and Mazda with 62.8 percent. Toyota also stood out with a drop of 81.8 percent in its exports.
For all of 2023, production totaled 3.78 million vehicles, up 14.2 percent year-over-year. This volume is the highest in the last four years, surpassed by the 3.81 million in 2019. Exports totaled 3.30 million units, 15.2 percent more.