The value of automotive industry exports in Mexico registered an annual increase of 7.2 percent year-on-year, in July to $17.11 billion. It is the fourth time in Mexican history that the figure has exceeded $17 billion, according to a SteelOrbis analysis of preliminary data from the national statistics agency Inegi.
In July, the automotive industry contributed 34.4 percent of the manufacturing industry's exports. It also represented 31.2 percent of Mexico's total exports. One point to note is that manufacturing industry exports totaled $49.75 billion, a new all-time high.
In the January-July period, automotive industry exports in Mexico totaled $112.32 billion, 6.6 percent or $7.0 billion more than the January-July period of last year. It is also a historic record.
The automotive industry, according to Canacero, is the second largest consumer of steel in the country.