Mexico’s Vehicle Output and Exports Drop in October

For January through October, production declined 4% to 3.25 million vehicles. Exports were down 3.3% over the same period, at 2.79 million units. Domestic sales, including imported models, increased 4.8% to 1.29 million.

Production adjustments and weaker external demand have weighed on output and exports, analysts at Bank of Nova Scotia said in a report last week. Mexico’s automotive sector is approaching year-end with “mixed signals,” they said, adding that production and exports remain reliant on momentum in the U.S. market, where demand is slowing.

The U.S. accounted for around 77% of Mexico’s light vehicle exports in the first 10 months of the year.