The United States was destination of 76.4% of Mexican auto exports in October to 219,585 vehicles.
Auto plants in Mexico built 365,111 vehicles in October, the highest monthly figure ever, which also represents an 11.1% increase compared to the 328,490 units assembled in the same month of 2016, the Mexican Automotive Industry Association revealed last week.
From January through October 3,194,872 cars and light trucks rolled out of assembly plants established in Mexico, also a record figure and a 10% hike compared to the same ten-month period of 2016, the AMIA report says.
Auto exports totaled 287,465 units in the tenth month of 2017, a 12.7% increase and the highest figure for a month of October. Year-to-date exports through October totaled 2,575,361 vehicles, a growth of 11.7% and a record high for a ten-month period.
The United States was destination of 76.4% of Mexican auto exports in October to 219,585 vehicles. Year-to-date exports to the U.S. totaled 1,961,097 vehicles, 76.1% share.
It is worth noticing that 14,148,269 cars and light trucks were sold in the U.S. market from January through October, 1.8% less vehicles compared to same period of 2016. Mexico’s auto exports to the U.S. in October represented a 16.3% of total U.S. auto sales during that month, while year-to-date Mexican exports were 13.9% of total U.S. auto sales over the same ten-month period.
Canada followed far behind as second destination for Mexico’s auto exports to 20,403 vehicles in October, 7.1% of total, and 218,841 units in the firsts ten months of 2017, an 8.5% share, representing increases of 5.8% and 4.2% respectively.
Germany is now the third most important market for Mexican auto exports. In October, 10,457 vehicles were shipped to the German market, an increase of 99.5% compared to same month of 2016. Year-to-date exports to Germany totaled 76,303 units, which represents a 12.4% growth.
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Having spent many years at KPMG as a partner and finally as Head of Corporate Finance, Midlands, Richard Boot currently chairs and holds directorship of various companies associated with staffing and recruitment. He is also a former board member of IRC Global Executive Search Partners.
IRC Global Executive Search Partners convened affiliates and business partners at three regional summits covering Asia Pacific (APAC), Europe, the Middle East and Africa (EMEA) and the Americas in early 2019 to spark an intercontinental discussion about leadership and organizational preparedness in an era characterized by accelerating technological change and disruption.