Mexico’s auto industry turns the corner, accelerates

06/09/2011

After a tough 2008-2009, Mexico's automotive industry has rebounded nicely, setting new production and export records. According to the Mexican Automotive Industry Assn. (AMIA), production of cars and light trucks in Mexico climbed 15% to a record 998,757 units in the first five months of 2011, compared with the same period in 2010.

The Association credits the surge to a jump in exports to Latin America and the U.S. Total exports grew 17% to 832,000 units from January through May. In May, output jumped 19% year-over-year to 213,000 vehicles, the AMIA reports. Exports grew 21% to 177,000 units. Both were records for the month.

Domestic auto sales rose 11% to 68,600 units in May, according to Mexico's auto dealer group, AMDA. Sales increased 11% to 344,800 units in the first five months of this year, and the AMDA predicts full-year sales of 890,000 vehicles in Mexico. AMIA President Eduardo Solis noted that the local auto industry "has more than recovered from the 2008-2009 economic crisis" and is "setting new records for production and exports."...
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