After 12 consecutive months of growth, the value of exports from the automotive industry in Mexico registered its first drop in February, decreasing 7.9 percent, year-over-year, totaling $13.12 billion, according to preliminary information from the national statistics agency Inegi.
However, in the first two months of the year, the value of exports from the automotive industry totaled $26.73 billion, 18.8 percent more than in the same period in 2022.
In February, the automotive industry contributed 29.2 percent of Mexico's total exports, 1.62 percentage points less compared to the 30.8 percent contribution in the same month of 2022.
In the January-February period, it contributed 30.5 percent of the total, 2.5 percentage points more than in the same period last year.