16% of the 4 million new vehicles sold in the US in Q1 were assembled in Mexico.
The total number of new vehicles exported from Mexico to the US in the first quarter of 2019 surged 10.1% to 658,243 vehicles, according to figures compiled by the vehicle manufacturers association AIMA and released by Mexico’s National Institute of Statistics and Geography (INEGI). It’s all about “trucks”: 63% of these vehicles were “trucks” — pickups, SUVs, crossovers, and minivans. This Q1 surge in exports to the US comes despite the 3.2% decline in auto sales in the US.
In the last eight years, Mexico’s auto exports to the US have doubled, from 1.3 million in 2011 to 2.6 million in 2018, at annual growth rates between 6.3% and 13.9%. If Q1 is a sign of what’s to come for the rest of 2019, this trend is set to continue:
The latest figures cement Mexico’s position as number one exporter of automobiles to the US, ahead of Canada in second place. According to AIMA, 16% of the 4 million cars and other light vehicles registered in the U.S. in the first quarter of 2019 were assembled in Mexico. Roughly four out of five vehicles that Mexico exports are exported to the US. The remainder are exported to countries around the world, including Canada, Europe, China, other parts of Latin America…