Vehicle production in Mexico decreased 12.8 percent in March, year-over-year, to 301,976 units, a volume that is the lowest in the last four years. In the month, 10 vehicle manufacturers showed contraction and only three increased: General Motors, Honda and Mercedes-Benz, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Although for the third consecutive month, production exceeded 300 thousand units per month, that volume was the lowest in the last four years, only surpassed by 269,774 in March 2020.
The biggest declines in production were at KIA and Nissan with more than 10 percent. Meanwhile, Toyota, Ford, Audi and Mazda fell more than 20 percent and the drop in Stellantis (Fiat, Chrysler and PSA) was 35.6 percent, year over year, in March.
Of the total production in March, 69.1 percent was contributed by five companies: General Motors (22.9 percent), Nissan (16.8 percent of the total), Volkswagen (10.7 percent), Stellantis (10.6 percent) and Ford Motor (8.1 percent). Those five, in March of last year, contributed 68.8 percent.
The three top shareholders in the month were: General Motor with an increase of 430 basis points in its market share to remain at 22.9 percent, Honda gained 140 basis points to remain at 4.9 percent and Volkswagen gained 100 basis points to remain at 10.7 percent.
In contrast, Mazda, saw a reduction of 110 basis points, leaving its contribution to total production at 5.4 percent, Ford Motor lost 130 basis points to remain at 8.1 percent, and Stellantis lost 380 basis points, leaving 10.6 percent.
In exports, 286,002 units were shipped in March, 4.9 percent more, year-over-year. Of that volume, five companies contributed 70.1 percent: General Motors continues to be the export leader with 23.0 percent of the total, followed by Nissan with 16.7 percent, Stellantis with 10.7 percent, Ford Motor with 10.3 percent and Volkswagen. with 9.4 percent.