Car production in Mexico grew 15.22% annually during May and accumulates a growth of 3.5% so far this year, reported the National Institute of Statistics and Geography.
In May, the Mexican automotive industry produced 275,436 light vehicles. This represents 36,389 more cars than those produced in May 2021 and, therefore, an increase of 15.22%, according to INEGI figures.
However, if the accumulated production from January to May 2021 is taken, the increase is only 3.5%. In the first five months of 2021, 1,329,436 units were manufactured and, in the same period of 2022, there are 46,592 more cars.
In May, Honda, BMW and Mazda led the largest declines in their production compared to the same month in 2021, with decreases of 69%, 47.5% and 31.8%, respectively.
In contrast, Ford Motor, Toyota and Volkswagen had some of the largest increases in production in May, with 74%, 45% and 40.8%, respectively.
Setback in exports
Exports, for their part, increased 1.08% at the annual rate during May, when 244,643 units were exported.
However, in the accumulated from January to May 2022, a decrease of 0.28% is observed in relation to the same period of 2021.
