Mexico’s Auto Sales Surge 9.8% in 2024, Marking Third-Highest Year

The National Institute of Statistics and Geography (INEGI) reported Mexico’s new light vehicle sales reached 1,496,806 units in 2024. This figure represents a 9.8% increase compared to 2023 sales.

The 2024 sales total marks the third-highest year in Mexico’s automotive industry history. However, it fell slightly short of the 1.5 million unit projection.

January-December 2024 sales surpassed 2019 levels by 13.6%. The Mexican Association of Automotive Distributors (AMDA) had estimated sales of 1,506,041 vehicles.

December 2024 saw 146,365 light vehicles sold, up 1.9% from December 2023. This increase of 2,703 units exceeded December 2019 sales by 12.2%.

Despite December traditionally being the strongest month, 2024’s December sales grew less than expected. Sales decreased by 1,639 units (1.1%) compared to November 2024.

The industry anticipated a sales slowdown in the second half of 2024. The top ten brands remained unchanged, led by Nissan, General Motors, Volkswagen, Toyota, and Kia.

Of the 33 brands selling in Mexico, 13 experienced sales declines in December. These included high-volume brands like General Motors, Toyota, Stellantis, and Ford.

This data reveals a resilient Mexican auto market, outperforming pre-pandemic levels despite falling short of ambitious projections. The industry’s performance reflects broader economic trends and consumer confidence in Mexico’s automotive sector.

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