EconomyFinancialIn July, the production of cars in Mexico shoots...

In July, the production of cars in Mexico shoots up 10.46% at the annual rate

Car production in Mexico soared during July and exports showed growth, according to data from the National Institute of Statistics and Geography.

In July, 259,994 units were produced in the country, that is, 24,614 more than in July 2021. This represents an annual growth of 10.46%. And if the accumulated production is observed in the period from January to July, there is also an increase of 4.76% at the annual rate.

On the other hand, car exports in Mexico grew 4.03%, at an annual rate, during July. This allowed that in the period from January to July, exports show an improvement of 0.50% compared to the same period in 2021.

Chinese brand grows and BMW produces only 65 units

Within the sphere of production, the brands with the best performance in July were JAC, Volkswagen and KIA, with annual growth of 617%, 102% and 35%, respectively.

and the car rental company Budget Rent-A-Car.

In contrast, BMW, Mercedes Benz and Nissan obtained an annual contraction in their production of 98.8%, 31.4% and 39.5%.

In fact, the BMW Group went from producing 5,641 cars in the country in July 2021, to just 65 units in July 2022. This also had an impact on its sales, which fell 15.1% during July, compared to the same month. of 2021.

Nissan exports continue to fall

Regarding exports, Volkswagen, Ford and KIA showed the best annual progress during July, growing by 106.4%, 103.9% and 42.1%, respectively.

In the period from January to July, Stellantis holds the first position for the number of cars exported from Mexico, with 202,573 units, an amount 1.8% lower than that of the same period in 2021.

For their part, Nissan, Audi and Honda were the brands that suffered the greatest falls in exports during July. At an annual rate, Nissan fell 53.1% and maintains an annual decrease of 39.6% for the period from January to July.

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