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Mexico’s Car Production Jumps to Record High

Local production of cars and light trucks in Mexico grew 11% to an any-month record high of 365,100 units in October, the Mexico Auto Industry Assn. (AMIA) reports.

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Local production of cars and light trucks in Mexico grew 11% to an any-month record high of 365,100 units in October, the Mexico Auto Industry Assn. (AMIA) reports.

Exports, which claim 79% of the country’s output, climbed 13% to 287,500 units. Most of those vehicles are shipped to the U.S.

Domestic car sales shrank 10% to 123,300 units in October, marking their fifth consecutive month of decline. Mexico’s auto distributors association says consumer purchasing power has been eroded by rising inflation and interest rates.

Gardner Business Media - Strategic Business Solutions