Although three major automakers: Ford Motor, Stellantis and Volkswagen decreased their production in November, the rest of the industry produced 351,535 units in the month, a figure that represents a new historical record. In addition, the accumulated production in the first 11 months is also a new record with 3.76 million units, according to SteelOrbis' analysis of data from the national statistics agency Inegi.
In November, production increased year-over-year by 6.7 percent. In the January-November period, the annual increase increased by 5.6 percent.
Of the 13 vehicle manufacturers in Mexico, seven companies increased their production by 20.6 percent to 236,056 units, a volume that represented 67.2 percent of the total. In contrast, six producers decreased their production by 13.6 percent to 115,479 units.
Of the total production, 68.1 percent was concentrated in five vehicle manufacturers: Ford Motor with 8.0 percent of the total, Volkswagen with 8.3 percent, Stellantis (Fiat, Chrysler and PSA) with 9.9 percent, Nissan with 17.3 percent and the leader General Motors with 24.6 percent.
The two winners in November were Toyota, which increased its market share in production by 400 basis points to 7.1 percent, and General Motors, which increased by 350 basis points to 24.6 percent of total production.
In contrast, the three companies that lost the most were Ford Motor with 120 basis points to 8.0 percent, Stellantis lost 170 basis points to 9.9 percent and Volkswagen lost 230 basis points to 8.3 percent of total production.
In the international market, exports grew 2.8 percent, year-over-year, in November to 289,309 units. Of that total, five companies contributed 67.7 percent: General Motors remains the export leader with 26.0 percent of the total, followed by Nissan with 12.9 percent, Stellantis with 10.6 percent, Toyota with 8.2 percent and Volkswagen with 9.2 percent of the total.
In the January-November period, production totaled 3.76 million units, 5.6 percent more than the same period in 2023. Exports totaled 3.21 million units, 6.4 percent more. Both figures are an all-time high.
The automotive industry is the second largest consumer of steel in Mexico, only surpassed by the construction industry, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero).