Mexican auto industry sets new records for exports

Production of vehicles grew 12.8 percent last year to a record 2.88 million units

Mexican auto industry sets new records for exportsEFE Agency
EFE Agency

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Mexico City, Jan 10 (EFE).- Mexico's production of motor vehicles grew 12.8 percent last year to a record 2.88 million units as exports increased 9.9 percent to 2.35 million, also a new high, the AMIA industry association said Thursday.

The strength of the export sector compensated for slow sales at home, AMIA said.

The United States accounted for 63.9 percent of Mexico's foreign sales of cars and light trucks, while another 15.5 percent went to Latin American nations.

Domestic vehicle sales were up 9 percent last year compared with 2011, but the total was 10.2 percent lower than in 2007 and only slightly better than that of 2002, AMIA said, and added that it was "a lost decade" for the Mexican auto market.

With sales yet to return to the volumes reached prior to the 2008 global financial crisis, "the domestic market is far below the level where it should be," AMIA said.

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