The heavy vehicle sector reported a mixed balance at the end of October 2024, due to the annual drop in production and export of units; while in sales they accelerated the pace compared to October 2023, figures from the National Institute of Statistics and Geography (Inegi) revealed.
At the end of October 2024, the heavy vehicle industry in Mexico exported 11,677 units, which represented an annual contraction of 19.30 percent, its second consecutive annual decline.
According to the Administrative Registry of the Automotive Industry of Heavy Vehicles (Raiavp), production amounted to 17,302 heavy vehicles in the tenth month of 2024, 7.75 percent less compared to the same month last year, after the decline in the previous month of 2.79 percent.
Likewise, retail sales reached 5,521 units, 17.82 percent above those reported in October 2023. While wholesale marketing totaled 6,675 units, which represented an annual increase of 43.52 percent.
In its sequential variation, exports of heavy vehicles fell 6.28 percent in October compared to September 2024; while production increased 2.62 percent monthly, after the collapse of 22.55 percent monthly in September. Meanwhile, retail sales rose 6.89 percent monthly in the tenth month of this year; while wholesalers registered a monthly increase of 19.47 percent, after their previous drop of 11.64 percent.
In 10 months
In the period January-October 2024, 135,534 units were exported, which represented a contraction of 9.08 percent compared to the same period in 2023. The main market was the United States, with a share of 95.5 percent. Canada, 3.3 percent; while others 4.5 percent.
In the first 10 months of the year, the 12 companies that make up this registry assembled 179,398 heavy vehicles, which represented a drop of 3.98 percent.
During the January-October 2024 period, the production of heavy vehicles in Mexico was concentrated in cargo vehicles, which represented 96.4 percent of the total. The rest corresponded to the manufacturing of passenger buses (3.6 percent).
At retail, 47,815 vehicles were sold between January and October of this year, 11.38 percent more compared to the same period in 2023. At wholesale, 51,828 units were sold, 15.15 percent higher than the same period last year.
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