Vehicle production in Mexico increased 3.8 percent in June, year-over-year, to 344,206 units, the third consecutive annual increase. Six of the 13 assembly companies in the country increased their production, with General Motors standing out with an increase of 48.1 percent, according to SteelOrbis analysis of data from the national statistics agency Inegi.
June was the sixth consecutive month with production above 300 thousand units per month. In the last 43 months, that production volume has only been exceeded 17 times and six of them are in 2024.
Of the total production, 69.3 percent was concentrated in five vehicle manufacturers: Volkswagen with 9.6 percent, Stellantis (Fiat, Chrysler and PSA) 10.5 percent, Ford Motor 11.2 percent, Nissan 17.6 percent and the market leader in General Motors production with 20.5 percent.
The winners in June were General Motors, which increased its market share in production by 610 basis points to remain at 20.5 percent, Stellantis gained 90 basis points to reach 10.5 percent and Mercedes Benz gained 10 basis points to remain at 1.6 percent. They were the only three companies that gained participation, the rest lost.
In contrast, the four that lost the most were: KIA with 110 basis points to remain at 6.1 percent, BMW Group lost 120 basis points to stay at 2.5 percent, Toyota lost 130 basis points to a total 6.3 percent and Volkswagen lost 160 basis points, remaining at 9.6 percent.
In exports, 295,742 units were sent abroad in June, 3.3 percent year-over-year. This increase was due to the better performance of 7 of the 12 exporters.
Five companies contributed 63.3 percent: General Motors remains the leading exporter with 15.6 percent of the total, followed by Nissan with 14.2 percent, Ford Motor with 12.6 percent, Volkswagen with 10.5 percent and Stellantis with 10.3 percent of the total.
In the first half of the year, production totaled 1.99 million units, 5.2 percent more compared to the same period in 2023. Exports totaled 1.72 million units, 10.7 percent more.
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).