The value of exports from automotive industry in Mexico registered a marginal annual increase of 1.1 percent in May to $17.72 billion, an amount that is a historical maximum level, according to SteelOrbis analysis of preliminary data from the national statistics agency Inegi.
Cumulatively until May, exports from the automotive industry in (light vehicles, auto parts and heavy trucks) totaled $79.60 billion, 8.2 percent or $6.03 billion more compared to the January-May period of last year. It is also a historical record.
The automotive industry lost 140 basis points in Mexico's total exports, going from 33.2 percent to 31.8 percent in the period.
In the first five months of the year, the United States received 86.2 percent of Mexican automotive exports.
In the accumulated, automotive exports to the United States totaled $68.65 billion, 11.7 percent or $7.19 billion more.
Automotive exports sold in the rest of the world totaled $10.96 billion, 9.5 percent or $1.15 billion less compared to the January-May period of last year.
The automotive industry, according to Canacero, is the second largest consumer of steel in the country.