Vehicle production in Mexico increased in October 1.1 percent, year-over-year, to 382,101 units, according to the analysis of SteelOrbis to the data of the national statistics agency Inegi. Of the 13 vehicle manufacturers in Mexico, seven companies increased their production 12.9 percent to 285,566 units, volume that represented 74.7 percent of the total. In contrast, six producers decreased their production 22.8 percent to 96,535 units. In the given month, exports grew 5.0 percent year-over-year in October to 332,356 units.
In the January-October period, production totaled 3.41 million units, 5.5 percent more than the same period in 2023. Exports totaled 2.92 million units, 6.8 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).