Mexico City. The automotive industry in Mexico managed to sell 962,870 light vehicles in the national market in the first eight months of 2024, its best sales for a similar period since 2017, according to data from the National Institute of Statistics and Geography (Inegi).
According to the progress of sales to the public in the domestic market of the Administrative Registry of the Automotive Industry of Light Vehicles (Raiavl), sales of light vehicles nationwide grew 12.18 percent annually during the period January-August of this year.
The sale of more than 960 thousand units at the end of August was the best figure since the period from January to August 2017, when 993 thousand 667 light vehicles were sold between January and August.
Given that the Mexican economy grew 1.8 percent in the first half of 2024, according to Inegi, and consumption, although it slowed its growth rate, supports domestic vehicle sales, which increased monthly in six of the eight months of the year.
While this marked a recovery from the collapse in sales caused by the Covid-19 pandemic crisis, they are 13 percent above sales in the first eight months of 2019, before the coronavirus pandemic hit.
Factories are back to normal, while the supply of parts and sensors is finally normalizing after the problems of recent years. The supply chain is breathing easier.
Meanwhile, Inegi, with information from 23 companies affiliated with the Mexican Association of the Automotive Industry (AMIA), Autos Orientales Picacho, Giant Motors Latin America and Great Wall Motor Mexico, stated that the sale of light vehicles was 127,684 units in August, which represented a growth of 11.91 percent compared to August of last year.
These were also the best sales for an eighth month of the year since 2016 (134,388 units).
Compared to July 2024, domestic light vehicle sales rose 2.13 percent in August, their fourth consecutive monthly increase.
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– 2024-09-06 20:12:34
