New vehicle sales in the Mexican market increased 4.5 percent, year-over-year, in March to 124,395 units. That volume is the second highest in history for a third month of each year, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Of the total volume sold, five companies accounted for 58.8 percent. Nissan contributed 18.9 percent of the total, followed by General Motors with 14.1 percent, Volkswagen 10.8 percent, Stellantis (Fiat, Chrysler and PSA) with 7.6 percent and Toyota with 7.3 percent.
In March, the market share winners were Toyota with 120 basis points to 7.3 percent, General Motors gained 110 basis points to total 14.0 percent market share, Volkswagen gained 70 basis points to 10.8 percent and Ford also gained 70 basis points, totaling 3.4 percent market share.
In contrast, the losers were Mercedes Benz with 40 basis points, remaining at 1.0 percent of the market, Stellantis lost 90 basis points, remaining with 7.6 percent, and Chirey lost 120 basis points, totaling 1.7 percent. and Renault lost 120 basis points, remaining at 2.5 percent of the retail sales market in Mexico.
The market leader was Nissan with 18.9 percent of the market by selling 23,531 units, 4.0 percent more than March of last year.
In the first quarter, 349,752 units were sold, 34,626 or 11.0 percent more compared to the same period in 2023.
The Inegi information comes from the records of 23 companies affiliated with the Mexican Association of the Automotive Industry (AMIA) and two other non-associated companies.