Vehicle production in Mexico increased 11.7 percent year-over-year in September to 378,583 units. This is the highest volume in the last 83 months (since November 2017). Volume was also 0.9 percent or 3,527 units below the historical record, according to SteelOrbis' analysis of data from the national statistics agency Inegi.
Of the 13 vehicle manufacturers in Mexico, nine companies increased their production 19.6 percent to 305,096 units, a volume that represented 80.6 percent of the total. In contrast, four producers decreased their production 12.3 percent to 73,487 units.
Of total production, 70.0 percent was concentrated in five vehicle manufacturers: Volkswagen contributed 9.4 percent, Ford Motor contributed 9.7 percent, Stellantis (Fiat, Chrysler and PSA) contributed 10.1 percent, Nissan 15.2 percent and market leader General Motors 25.7 percent.
The winners in September were General Motors which increased its market share in production by 590 basis points to 25.7 percent, Nissan gained 60 basis points to 15.2 percent and Honda gained 30 basis points to 4.4 percent.
In contrast, Ford Motor lost the most with 220 basis points from 11.8 to 9.6 percent, BMW lost 140 basis points to 2.3 percent, Mercedes Benz lost 93 basis points to 1.0 percent
Exports grew 4.8 percent year-over-year in September to 315,706 units. Of the total, five companies contributed 68.5 percent: General Motors remains the export leader with 24.2 percent of the total, followed by Nissan with 14.1 percent, Ford Motor with 11.5 percent, Stellantis with 9.4 percent and Volkswagen with 9.2 percent of the total.
In the cumulative period from January to September, production totaled 3.03 million units, 6.1 percent more than in the same period in 2023. Exports totaled 2.59 million units, 7.0 percent more.
The automotive industry is the second largest consumer of steel in Mexico, surpassed only by the construction industry, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero).