Mexican Auto Industry Remains Export-Focused

CEIC Macro Watch #31 - April 30, 2014 - Low operating costs, free trade agreements and proven high quality workmanship have been among the key factors contributing to the success of Mexico’s automotive industry. Production of vehicles in Mexico rose by 1.68% year-on-year in 2013 to 2.93 million units. Although Mexico produces fewer vehicles than Brazil or the United States, the country exports more than these countries. Mexico is among the major exporters of vehicles to the United States and Germany, among other parts of the world. A 17.9% share of its total production in 2013 was sold in the domestic market, while 82.1% was exported. The United States and Brazil are more focused on their domestic markets. In 2013, the US produced 3.2 million units for domestic consumption and 1.16 million units were exported. Meanwhile, Brazil produced 3.71 million units and only 15.34% of them were exported. Given the growth prospects of vehicles, Mexico has much scope to attract further investment into the industry, hence boosting employment and stimulating the economy. By Darlene Tamayo Google+ Author Profile - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog
30th April 2014 Mexican Auto Industry Remains Export-Focused