EconomyFinancialThe production of cars in August grows 31.36% at...

The production of cars in August grows 31.36% at the annual rate, Inegi

In August, automobile production in Mexico soared 31.36% compared to the same month in 2021, while exports rose 16.93%, in one of the best months of the year for the automotive industry.

In total, 316,815 vehicle units were produced in Mexico during August, a difference of 75,637 cars more than in August 2021. With this growth, automotive production accumulates 2,238,153 cars so far this year, which implies a variation of 7.85%. at annual rate.

In terms of production, it is the highest volume since October 2020, when 347,906 units were produced.

Except for the Honda and Nissan brands, the rest of the automotive companies considered for the Inegi measurement registered positive variations in their production, during August, compared to the same month of 2021.

Honda and Nissan saw their production drop by 24.7% and 21.1%, respectively, compared to August 2021.

Exports pick up

In August, 248,704 light automobiles were exported from Mexico, which represents a growth of 16.93% compared to August 2021. And, if the January-August period is taken into account, exports have grown 2.43% at the annual rate.

It is the second best month so far this year for light vehicle exports, behind only March, when 262,494 cars were shipped abroad.

And, as for sales, they rose 16.47% at the annual rate in August. And, so far this year, they have grown 1.73%, compared to the January-August 2021 period. In total, 91,124 light vehicles were sold in the Mexican domestic market last month.

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