The value of Mexico's automotive industry exports registered the second consecutive annual decline, in September 7.4 percent, year-over-year, to $15.42 billion, an amount that ranks as the lowest in the last 17 months (since May 2023), according to a SteelOrbis analysis of preliminary data from the national statistics agency Inegi.
In September, the automotive industry (light and heavy vehicles and auto parts) contributed 34.1 percent of the manufacturing industry's exports. It also represented 31.1 percent of Mexico's total exports.
In the cumulative period through September, Mexico's automotive industry exports totaled $144.1 billion, 3.7 percent or $5.2 billion more than the January-September period of last year. The value of exports is a historical record for that period.
The automotive industry, according to Canacero, is the second largest consumer of steel in Mexico.