Vehicle production in Mexico grew 24.0 percent, year-over-year, in September, totaling 338,899 vehicles. It is the third largest increase in the last 23 years for a September and exports exceeded the volume of 300 thousand units in one month for the first time in 42 months, according to SteelOrbis analysis of data from the national statistics agency Inegi.
It is the sixteenth consecutive increase in production. For the same month of September, the increase in 2023 is the third most pronounced, only surpassed by the 31.4 percent in 2022 and 34.9 percent in 2010. In addition, it is the eighth time in the last 42 months (since December 2019 ) that production exceeds 300 thousand units of monthly production. In 2023, it will be surpassed in March, May, June, August and September.
66.7 percent of total production was contributed by five companies: General Motors (19.8 percent), Nissan (14.7 percent of the total), Ford Motor (11.8 percent), Stellantis (11.0 percent) and Volkswagen (9.3 percent). In September, they stood out for the increase in their production: BMW with 89.4 percent, Nissan with 79.5 percent and Volkswagen with 57.1 percent.
In the international market, the automotive industry in Mexico returned for the first time in 42 months to exporting more than 300 thousand units per month. In September, 301,341 vehicles were exported, 16 percent or 41,549 units more compared to the same month in 2022. In 2017, 2018 and 2019 the average export exceeded 300 thousand units per month.
Five companies contributed 66.1 percent of total exports: General Motors remains the export leader with 20.5 percent of the total, followed by Ford Motor with 12.8 percent, Stellantis 12.6 percent, Volkswagen with 11.7 percent and Toyota with 8.5 percent.
In September, BMW stood out in exports with an increase of 82.5 percent, Honda with an increase of 56.7 percent and Volkswagen with 45.7 percent.
In the January-September period, production totaled 2.85 million vehicles and exports 2.43 million units, figures that represent annualized increases of 13.5 and 14.2 percent, respectively.