Vehicle production in Mexico increased 18.1 percent, year-over-year in November, totaling 329,415 units. It is the nineteenth consecutive annual increase, and it is also the largest increase in the last 18 years for the same month, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Of the total production, 69.6 percent was contributed by five companies: General Motors (21.1 percent), Nissan (17.0 percent of the total), Stellantis (11.7 percent), Volkswagen (10.6 percent) and Ford Motor (9.3 percent). percent). In November, the following stood out for the increase in their production: Honda with an annual increase of 124.8 percent, Giant Motors Latinoamericana (JAC) with an increase of 85.9 percent and Nissan with a rebound of 76.8 percent.
In contrast, Toyota production decreased 52.7 percent. At General Motors, production volume decreased by 2.6 percent and thus lost 4.5 units in its market share, which remained at 21.1 percent. Despite the decline, General Motors remained the largest vehicle producer in Mexico.
After two months of the automotive industry once again exporting more than 300 thousand units per month, in November it was below as in the 42-month period (July 2019 to August 2023). In November, 281,298 units were exported, 21.7 percent or 50,172 units more compared to the same month in 2022.
Five companies contributed 68.2 percent of total exports: General Motors remains the export leader with 24.8 percent of the total, followed by Stellantis with 13.1 percent, Volkswagen with 12.0 percent, Nissan with 9.5 percent and Ford Motor with 8.8 percent.
In November, Honda stood out in exports with an annual increase of 123.4 percent, while Nissan increased its international sales by 64.5 percent. Meanwhile, Volkswagen and Mazda grew by just over 50 percent.
In the January-November period, production totaled 3.56 million vehicles and exports 3.02 million units, figures that represent annualized increases of 16.1 and 15.1 percent, respectively.