April 2024 breaks the streak of negative figures in the production and export of light vehicles in a similar month, as it recorded growth for the first time since 2005.
In the reference month, plants located in Mexico manufactured 358,575 units, which corresponded to a 21.7% increase compared to the same month last year.
“This April is the strongest since 2005 when the Administrative Registry of the Automotive Industry of Light Vehicles (RAIAVL) began in collaboration with the National Institute of Statistics and Geography (INEGI),” detailed Adriana Ramírez, Manager of Economic Studies at the Mexican Automotive Industry Association (AMIA) in a press conference.
At the same time, in the cumulative period from January to April of the current year, a total of 1,286,356 units were produced, representing an increase of 5.7% compared to the same period in 2023.
Ramírez indicated that production by segment behaved positively in the first four months of the year. SUVs represented 46.9% of total production with 603,628 units, followed by pickups with 363,843 units, which accounted for 28.3% of national manufacturing, followed by compact cars with 18.8%, a percentage equivalent to 242,368 units.
The fourth, fifth, and sixth places were occupied by subcompact cars with 41,901 units, luxury cars with 33,076, and minivans with 1,540 units, respectively.
It is worth noting that since October 2023, Mexico has been producing two models of electric vehicles. In this context, in the cumulative period from January to April 2024, 25,701 units have been manufactured.
The representative of AMIA reported that the plant capacity utilized in the country was 89.2% during the first two months of the year. “This was higher than pre-pandemic and post-pandemic levels, highlighting an improvement in the assembly plants in our country.”
Regarding exports, April 2024 was the strongest month since 2005, with 289,756 units sent to trading partners, representing a 14.4% increase compared to April 2023.
In the cumulative period of the first four months of the year, export growth was 12.1% compared to the same period in 2023, with a total of 1,115,455 units.
By segment, SUVs led the shipments to Mexico’s trading partners with a total of 542,865 units, corresponding to 48.7 percent. In second place were pickup trucks with 328,001 units, representing 29.4% of exports.
In third place, compact cars were parked with 205,938 vehicles, accounting for 18.5 percent. In fourth and fifth place were luxury vehicles with 30,916 units and subcompacts with 7,735, respectively.
During the first four months of the year, the main destinations for vehicles made in Mexico were: the United States with 901,914 vehicles, which accounted for 80.9% of exports. Canada ranked second with 81,909 units, and Germany took third place with 33,540 vehicles.
