New vehicle sales in Mexico increased 20.1 percent, year-over-year, in January to 94,414 units. It is the ninth consecutive annual increase and the largest increase in the last seven years for the first month of the year, according to SteelOrbis analysis of data published by national statistics agency Inegi.
Despite that positive performance, January 2023 sales are the fourth lowest volume in a decade, according to historical data consulted by SteelOrbis.
The sales record in the last decade, for the first month of the year, was in 2017 with 123,447 units. The volume sold in 2023, compared to that maximum, is 23.5 percent less.
The INEGI information comes from the records of three companies and the Mexican Association of the Automotive Industry (AMIA), which brings together 22 vehicle assemblers.
The companies not affiliated with that chamber are the Chinese companies Motornation (Changan, Beijing Automotive Group and Jiangling Motors Corporation), Chirey Motor and the Mexican company that has billionaire Carlos Slim Helú as a partner in Giant Motors Latin America that manufactures the Chinese brands JAC Motors and First Automobile Works (FAW).