In Mexico’s bustling economy, new car sales in early 2024 rose by 11.9% compared to the previous year.
From January through June, dealers moved 708,650 vehicles off lots, a significant rise from 633,087 vehicles sold in the same span in 2023.
June itself witnessed 122,929 light vehicles sold, up 8.3% from June last year.
Guillermo Rosales of the Mexican Association of Automobile Distributors AMDA said sales now surpass 2019 pre-pandemic levels by 10.6%.
He attributed this rebound partly to the national consumer price index, which climbed by 4.78% annually. The cost of purchasing cars specifically rose by 1.63% by mid-June.
The broader economic landscape shows a projected GDP increase of 2.0% for Mexico in 2024.
This projection stems from a survey conducted by the Bank of Mexico, involving top economic specialists from the private sector.
Rewinding to 2020, vehicle sales plummeted to a nine-year low of 950,063 units because of the COVID-19 pandemic.
The auto sector has been recovering. Disruptions like economic halts, high logistical costs, and a semiconductor shortage strained the supply chain. Yet, the industry’s resilience shows in these figures.
This rebound benefits car manufacturers and dealers. It symbolizes broader recovery and hope for workers and communities, highlighting economic improvement.
As families and businesses in Mexico adapt and grow, thriving car sales signal renewed confidence and market stability.
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