The value of exports from the automotive industry in Mexico registered a year-over-year decrease of 2.4 percent in March, the second drop in the first three months of the year. Sales to the United States remain in positive territory, according to SteelOrbis' analysis of preliminary data from the national statistics agency Inegi.
In March, the value of automotive exports (light vehicles, auto parts and heavy trucks) totaled $16.04 billion.
The commercial performance of the automotive sector registered the least impact on Mexico's international trade. In the third month of the year, Mexico's total exports decreased 5.3 percent, year over year. Oil companies decreased 21.4 percent, manufacturing companies 4.5 percent and non-automotive manufacturing companies 5.6 percent.
According to information from Inegi, 87.3 percent of automotive exports were sent to the United States with $14.0 billion, 0.9 percent more than March of last year. To the rest of the world, $2.03 trillion, 20 percent, was sent.
In the accumulated three months, automotive exports totaled $45.41 billion, 5.2% or $2.25 billion more compared to the January-March period of last year.
In the quarter, the automotive industry contributed 35.7 percent of Mexico's total exports, 1.1 basis points more compared to the same period last year.