Vehicle production in Mexico surpassed the December setback and in January increased 9.6 percent, year-over-year, to 307,069 units, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Of the total production of the first month of 2024, 73.4 percent was contributed by five companies: General Motors (21.9 percent of the total), Nissan (18.4 percent), Stellantis (12.3 percent), Ford Motor (11.2 percent) and Volkswagen (9.6 percent). These same five companies contributed 62.7 percent.
In January, companies that stood out for the increase in their production included: Volkswagen with an annual increase of 93.1 percent, BMW with an increase of 80.2 percent and Honda with 77.8 percent.
In contrast, Audi production decreased 74.1 percent or in other words, the German company stopped producing more than 11,700 vehicles in January due to the strike of unionized workers that began on January 24 and ended on February 3. Other sharp declines in production were Toyota with a decrease of 67.4 percent and KIA with 30.4 percent.
In the first month of the year, Volkswagen was the automaker that gained the most market share with 420 basis points and Ford with 330 basis points in the analysis period. In contrast, those that lost the most were KIA with 300 basis points, Audi with 430 basis points when going from 5.7 percent to 1.3 percent, and Toyota lost 590 points when it remained at 2.5 percent.
Automotive exports in January reached a historical record for the month with 254,367 vehicles, 6.8 percent more, year-over-year.
Five companies contributed 75.6 percent of total exports: General Motors remains the export leader with 25.2 percent of the total, followed by Nissan also with 17.2 percent, Stellantis with 13.9 percent, Ford Motor with 12.4 percent and Volkswagen with 6.9 percent.
In exports, three companies stood out due to the increase in their production: Nissan increased its production by 151.1 percent, year-over-year. BMW reported an increase of 144.9 percent and Honda with 62.5 percent. In contrast, Toyota and Audi stood out with annualized declines of 76.8 and 77.4 percent, year-over-year, in their exports.