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Mexican Automotive Industry, unstoppable in October

Karla Salinas | 06.11.2014

Vehicle production in Mexico rose 15.8% in October, while exports grew 7.1%, according to the Mexican Association of the Automotive Industry (AMIA).

Vehicle production in Mexico rose 15.8% in October, while exports grew 7.1%, according to the Mexican Association of the Automotive Industry (AMIA).

The automakers established in Mexico produced 330,164 vehicles and exported 257.372 units in October, AMIA said in a monthly report.

Mexico exports about 70% of its automobile production into the United States, its main partner in the North American Free Trade Agreement (NAFTA), which also includes Canada.

The association said vehicle exports to the US increased 10.4% in the month, while exports to Canada escalated 60 percent.

The AMIA brings together the units in Mexico of US Ford and General Motors; Japanese Honda, Mazda, Nissan and Toyota; Germany's Volkswagen and Italy's Fiat, which is controlled by Chrysler.

In the period of January-October, vehicle production in Mexico totaled  two million 726,472 units, 8.5% more than in the same period in 2013.

Exports of the first 10 months of the year also rose 8.5% to two million  209, 873 units, AMIA said.

In the local market, vehicle sales in October rose 14.3% to 100,923 units, the highest level for the month of October.

Domestic sales amounted to 890,491 units, an upgrade of 5.6 percent from the period January to October of 2013, AMIA said.

Source: http://eleconomista.com.mx

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