The heavy vehicle industry in Mexico registered significant growth in its domestic sales in October of this year, highlighting a historic record amid a drop in exports to the United States, according to the balances presented by the National Institute of Statistics and Geography (INEGI) , the Mexican Association of Automobile Distributors (AMDA) and the National Association of Bus, Truck and Tractor Producers (ANPACT) .
In this context, retail sales of heavy vehicles in Mexico reached a total of 5,521 units in October 2024, representing a growth of 17.8% compared to the same month in 2023.
The domestic heavy vehicle market is experiencing a year of continuous growth. From January to October 2024, 47,815 units were reported sold at retail, exceeding by 11.38% the total recorded in the same period of 2023.
In the cargo segment, sales increased by 31.64% in October , while the passenger segment experienced a significant drop of 40.87 percent.
In this regard, Guillermo Rosales, Executive President of AMDA, highlighted that, if this trend continues in the last two months of the year, the sector could close 2024 with record figures in retail sales , exceeding 57 thousand units annually.
“This milestone would far exceed pre-pandemic levels,” Rosales said.
Despite the dynamism of the domestic market, Mexican exports of heavy vehicles show a slowdown of 9.1% so far this year, with a total of 135,534 units sent abroad.
According to representatives of AMDA and ANPACT, the main destination, the United States, received 95.5% of these exports, but reduced its orders due to lower domestic demand in its automotive sector.
Virginia Olalde, director of Foreign Trade and Economic Studies at ANPACT, explained that the drop in exports is related to the performance of the US market.
“The decrease in exports is mainly due to the adjustment in demand from the United States, which has registered a 6% drop in its purchases of heavy vehicles. Fortunately, this adjustment has been largely offset thanks to the strengthening of the Mexican market,” explained Olalde.
Alejandro Osorio, Director of Public Affairs and Communications at ANPACT, added that the promotion of financing and fleet renewal programs could further consolidate the national market in the coming months.
In addition, the Inegi report also reveals a gradual shift in preference for alternative energy sources. During the period from January to October, retail sales of hybrid and electric vehicles showed annual increases of 58.4% and 20.7%, respectively.
Although diesel remains the dominant source, with 97.32% of the market share, Osorio noted that these advances reflect the industry’s commitment to decarbonization and the adoption of clean technologies .
It is also expected that, from 2025, vehicles with Euro 6 technology will become standard in Mexico, significantly reducing emissions.
Osorio also said that the industry faces challenges next year related to economic stability, foreign trade policies and the capacity of energy infrastructure to support the growth of electromobility.
“It is essential to ensure an adequate supply of clean and accessible energy,” Osorio said.
He stressed the need for cooperation between the public and private sectors to strengthen energy infrastructure.
However, the heavy vehicle automotive industry in Mexico is preparing for 2025 with optimistic expectations, projecting to maintain growth in the domestic market and adjusting to international conditions.
Comment and follow us on X: @karinaquintero / @GrupoT21
