Vehicle production in Mexico increased 7.8 percent in February, year-over-year, to 318,735 units. That volume, for the same month, is the second highest in the last six years. Exports registered a new historical record for the second month of the year, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Of February's total production, 72.4 percent was contributed by five companies: General Motors (22.3 percent), Nissan (17.5 percent of the total), Volkswagen (11.8 percent), Stellantis (10.8 percent) and Ford Motor (9.7 percent). Those five, in February of last year, contributed 67.1 percent.
Of these five large manufacturers, Volkswagen stood out for their percentage variations with 73.3 percent more and Ford with an increase of 55.7 percent. In contrast, Stellantis (Fiat, Chrysler and PSA) decreased its production by 18.5 percent.
Also notable was the drop in production of 39.5 percent at Toyota and 57.0 percent at Audi, the latter due to the workers' strike that began on January 24 and ended on February 18.
The winners and losers of the month, in market share in production were: Volkswagen with a gain of 450 basis points to 11.8 percent, Ford Motor with 300 basis points to 9.7 percent and Nissan with 170 basis points to reach 17.5 percent .
In contrast, the losers were Stellantis with 350 basis points to remain at 10.8 percent, Toyota with 300 basis points to remain at 3.9 percent and Audi with 270 basis points to remain at 1.8 percent.
In exports, 282,608 units were shipped in February, 22.6 percent, year-over-year. In a comparison of only the second month of the year, 2024 marked a new historical record.
Five companies contributed 73.2 percent of total exports: General Motors remains the export leader with 24.4 percent of the total, followed by Nissan with 14.7 percent, Stellantis with 11.7 percent, Ford Motor with 11.5 percent and Volkswagen with 10.9 percent.
In exports, due to their increases, three companies stood out: Volkswagen with 116 percent, Honda with 88 percent and Ford with 61 percent.
In the first two months, production totaled 625,804 units, 8.6 percent more compared to the same period in 2023. Exports totaled 536,975 units, 14.6 percent more.