The month of April' 24 witnessed a 21.7 per cent increase in vehicle production in Mexico compared to last year's period, reaching a record high of 358,575 units. According to data from the National System of Statistical and Geographical Information (INEGI), eight assembly companies ramped up their production, while five saw a decline.
INEGI is an autonomous public institution responsible for regulating and coordinating the National System of Statistical and Geographical Information. Its mandate encompasses collecting and distributing data pertaining to Mexico's territory, resources, population, and economy. By providing comprehensive insights into the nation's characteristics, INEGI facilitates informed decision-making processes.
Mexico has become a significant force in the automotive manufacturing sector, attracting considerable investments from global automakers. The industry's push for aluminium-heavy designs, spurred by aims for fuel efficiency and lightweight construction, is fuelling the expansion of the aluminium market.
April marked the fourth consecutive month with production exceeding 300,000 units. Out of the last 41 months since December 2019, this production volume has only surpassed 300,000 units 14 times.
Of the total production, 70.2 per cent was concentrated among five vehicle manufacturers: Volkswagen at 10.0 per cent, Ford Motor at 10.7 per cent, Stellantis (Fiat, Chrysler, and PSA) at 11.0 per cent, Nissan at 15.6 per cent, and the market leader General Motors at 22.9 per cent.
The most significant percentage increases in production were seen at JAC (Jianghuai Automobile Group Corp) with an 85.5 per cent increase (0.7 per cent market share), followed by Nissan with a 51.9 per cent increase, and Volkswagen, General Motors, and KIA each experiencing increases of over 30 per cent. Kia holds a 6.7 per cent market share in production.
Nissan gained 31 basis points, ending the month with 15.6 per cent of the market share. General Motors gained 250 basis points, reaching 22.9 per cent, and Volkswagen gained 130 basis points, totalling 10.4 per cent.
Conversely, BMW Group lost 130 basis points, totalling a 2.0 per cent share in total production. Toyota lost 210 basis points, totalling 6.0 per cent, and Stellantis lost 270 basis points, reaching 11.0 per cent.
April's exports set a new historical record with 289,756 units shipped, marking a 14.4 percent increase year-over-year. Five companies contributed 66.5 per cent of this volume: General Motors led with 24.3 per cent, followed by Volkswagen with 11.9 per cent, Ford Motor with 10.9 per cent, Nissan with 10.5 per cent, and Stellantis with 9.0 per cent.
From January to April, production totalled 1.29 million units, a 5.7 per cent increase compared to the same period in 2023. Exports reached 1.11 million units, reflecting a 12.1 per cent increase.
