The value of Mexico's auto industry exports fell 3.3 percent year-over-year in August to $16.36 billion. This is the fourth non-consecutive annual decline so far this year, according to a SteelOrbis analysis of preliminary data from the national statistics agency Inegi.
In August, the auto industry (light and heavy vehicles and auto parts) accounted for 34.5 percent of manufacturing industry exports. It also accounted for 31.5 percent of Mexico's total exports.
In the January-August period, Mexico's auto industry exports totaled $128.68 billion, up 5.2 percent or $6.4 billion from the January-August period of last year. The value of exports is a historic record for that period.
The automotive industry, according to Canacero, is the second largest consumer of steel in Mexico.