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Sales of new vehicles in Mexico up 12.6 percent in July

Monday, 05 August 2024 09:29:18 (GMT+3)   |   San Diego
       

Sales of new vehicles in the Mexican market increased 12.6 percent, year-over-year, in July to 124,761 units. Only for July 2024 is the highest volume for a single month in the last eight years, it is also the fifteenth consecutive time that it exceeds 100 thousand units sold per month, according to a SteelOrbis analysis of data from the national agency of Inegi statistics.

Of the 29 marketing companies, 18 companies increased their sales by 17.0 percent and represented 86.5 percent of the total. In contrast, in 10 companies their sales volume decreased 16.4 percent compared to July of last year. That volume represented 12.5 percent. Great Wall Motor has no comparison for 2023, although in July it already captured one point of market share.

Of the total volume sold, five companies accounted for 58.2 percent. Nissan contributed 16.7 percent of the total, followed by General Motors with 13.7 percent, Volkswagen 11.8 percent, Toyota with 8.9 percent, and KIA with 7.1 percent.

In July, the market winners were Volkswagen with 150 basis points, totaling with a market share of 11.8 percent, the Chinese company Great Wall Motor gained 100 basis points and ended the month with 1.0 percent market share. Mazda gained 104 basis points to 6.7 percent, Volvo gained 45 basis points to end the month with a market share of 0.7 percent. Ford gained 30 basis points to 4.0 percent market share.

In contrast, the losers were Chirey with 128 basis points less and ending with a market share of 2.0 percent, Stellantis (Fiat, Chrysler and PSA) lost 109 basis points to remain at 5.1 percent, Renault lost 94 basis points and concluded the month with a market share of 2.3 percent, General Motors lost 74 basis points to 13.7 percent market share and Motornation lost 40 basis points to close the month with a market share of 1.0 percent.

In the January-July period, 833,411 units were sold, 12.7 percent more compared to the same period in 2023.


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