Mexico’s car exports reach levels not seen since 2011 • Economics and Finance • Forbes Mexico

At the end of 2023, Mexico exported 3,300,876 vehicles, a level not seen since 2011, said Odrasir Barquera, director general of the Mexican Automotive Industry Association (AMIA).

In details presented at a conference on Tuesday, the manager highlighted that SUVs and pickups are segments that account for nearly 81.5% of the country’s auto exports.

In detail, of Mexico’s exports in 2023, 54.4% were SUVs and 27.1% were pickup trucks, with compact, luxury and subcompact cars representing the remaining 18.5% of exported segments.

In 2022, the number of vehicles shipped overseas from Mexico increased by 15.19% last year, according to AMIA data.

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As for the level of automobile production, Mexico registered an increase of 14.23% in 2023 with the production of 3 million 779 234 units, the head of AMIA said.

Expectations

Explaining the positive results of Mexican automobile production and exports, Barquera emphasized that one of the main reasons favoring the national industry is the growth of sales in the US market, the main destination for automobile supplies from Mexico and where consumption of automobile products grew by almost 8% last year.

Odratsir Barkera said expectations from the industry for 2024 are positive.

Automotive manufacturing alone is expected to see significant growth, especially in the electric power sector, with the addition of a third model to the two that Ford and Chevrolet already produce in the country, he said.

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