Mexico CIty, Mexico — According to the Mexican Automotive Industry, car sales fell during the first half of this year.
Figures from the Mexican Automotive Industry Association show that throughout the country, 680,699 vehicles were sold, 8.4 percent less than the same period last year.
According to vanguardia.com, this is the largest decrease in the sale of vehicles for a similar period since 2009, when the market decreased 30.7 percent. It is also the lowest volume of placement since 2015.
Guillermo Rosales, Deputy General Director of the Mexican Association of Automotive Distributors (AMDA), noted that the deterioration of the exchange rate continues due to the delay in the renegotiation of the North American Free Trade Agreement, which may influence an upturn in inflation and a stagnation in the generation of employment, although they expect a better outlook for the second half of the year.
“The elections of July 1 ended in peace and a period of orderly transition is on the horizon, so that risks to the economy and the automotive market diminish. We expect a better market performance in the following months derived from the decrease in inflation as well as the decrease in the prices of vehicles observed in real terms according to INEGI government data,” explained Rosales.
By market share, Nissan holds the top market spot with 22.6 percent of total sales followed by General Motors with 15.3 percent, Volkswagen Group with 13.8 percent and Toyota with 7.6 percent.
The Chinese firm BAIC joined the Mexican Automotive Industry Association and reported sales for the first time in Mexico publicly, reporting that in June it sold 201 cars.
“One of the three strategic markets for the company worldwide is Mexico, because if they produce in the country they can send to Latin America and venture into North American nations, mainly the United States,” Rosales said.