Mexico’s auto exports recorded in October their highest level in 22 months

Exports of automobiles produced in Mexico reached their highest level in 22 months in October, amid increased international demand, mainly from North America, seeking to replenish depleted inventories that were affected by problems in global supply chains.

Automotive exports totaled 267,910 units in October, the highest figure since December 2020. The number of units exported represents a 19.3% growth compared to October 2021.

October exports exceeded those recorded in 2021 but are still below the October 2020 figure (280,474 vehicles). The figure exceeded October 2019 auto exports (259,158 units) before Covid-19.

Automotive production continued in October below pre-pandemic levels but was even lower than achieved amid the Covid-19 crisis.

Automakers manufactured 278,506 vehicles in Mexico in October 2022, according to figures released by the National Institute of Geography and Statistics (Inegi).

This figure was 8% higher than the 224,535 cars produced in October 2021 but lower than those assembled in October 2020 (347,906 units) and October 2019 (319,737 vehicles).

With information from Bloomberg