EconomyFinancialCar sales soar in March, but still far from...

Car sales soar in March, but still far from recovery

In March, car sales soared 19.5% compared to February and hit their best mark so far this year.

With 95,199 units sold, March became the best month of 2022 for the light vehicle market, according to what was reported by the National Institute of Statistics and Geography (Inegi).

In January and February, car sales had not exceeded 80,000 units and had not broken the 90,000 mark since December 2021, when 97,420 cars were sold.

Thus, sales in March were 19.5% higher than those of February, when 79,598 vehicles were sold, according to figures from the Administrative Registry of the Light Vehicle Automotive Industry.

However, March 2022 sales were slightly lower (0.16%) than March 2021, when 96,319 cars were sold. The figures are far from those reached in March 2019, before the pandemic, 117,529 cars were sold.

The automotive industry continues to suffer from chip shortages and other disruptions to supply chains, problems stemming from the COVID-19 pandemic.

Car sales fall again in April

The sale of light vehicles in the Mexican domestic market fell in April, after having grown in March. Sales are still 22% below pre-COVID levels.

Lithium batteries will be key to be in the Top 10 of car production

Mexico is today the seventh largest vehicle manufacturer globally, but to maintain this status, it is necessary to detonate a lithium battery production chain.

Renault joins the sanctions and closes its plant in Russia

The French car manufacturer finally gave in to the stoppage of activities in that country, after accusations from Ukraine for maintaining its operation in the territory of its invader.

Buy a used car? 5 tips to avoid being a victim of fraud

In Mexico, eight out of 10 people who sell or buy a used car are victims of some type of fraud attempt during the process.

"CIVAC employees should not worry": says Nissan manufacturing VP

The reassuring message comes after the end of production of the Versa model, which once again fueled rumors about a possible definitive closure of Nissan's oldest plant in Mexico.