Mexico Cars Market managed to somewhat improve in May, as restrictions were eased despite the current Covid19 health crisis. Indeed, in May the market dropped 59% with 42.028 units sold, leading Year to Date sales to 373.788 (-21%). Volkswagen reported the strongest loss within the Top 20.
Mexico Cars Market in May
As of June 15, Mexico reports over 150K Covid-19 cases, while it is the third country in terms of the number of deaths, behind USA and Brazil. Despite the worrying health conditions, the Government decided to start easing restriction measures in May. As a result, the market managed to somewhat recover compared to the previous month.
Indeed, in May the car market dropped down 59% with 42.028 units sold, leading Year to Date sales to 373.788 (-21%).
The market leader Nissan performed slightly better than the market in May, while Volkswagen reported the strongest loss within the Top 20, losing over 70%. Ram (-40.4%) manages to enter the Top 10.
Post Covid19 Market Trend
As of March 31, 1.315 COVID-19 cases were confirmed in the country and a partial lockdown was imposed since the end of April.
As a result, in March registrations fell “only” by 25.5% at 87.517, ending Q1 at 296.677 (-10.9%).
In April, auto sales dropped down 67.5% with 35.083 sales.
Medium Terms Market Trend
The Mexican automotive industry grew up uninterruptedly for the entire period 2010-2016 with light vehicles sales booming from 803.222 (2010) to the all-time record of 1.604.000 (2016) and the growth of the domestic market was simultaneously to the huge development of the local production, which boomed for new localization done by new manufacturers like Honda, Mazda, Hyundai, Kia and by the expansion of already existing companies, like Ford and General Motors.
In 2016 Mr Trump became President of the United States. The Mexican domestic market was on a high peak and it was expected a steady decline before to start a new positive path and indeed in the 2017 sales declined just 5% at 1.53 million.
However, the start of the revision of commercial agreement with US and the increase of tariffs, blocked the growth of the Mexican economy and the major industrial sector, the automotive was even more penalized by new limits to the export to the US zone.
The negative trend became more “structural” than expected and sales declined in 2018 and 2019.
In the first two months of 2020, the Mexican car market kept declining, despite in February it signed the first monthly growth in almost 3 years. Indeed, according to data released by the Association of Mexican Automotive Industry, year-to-date sales in February fell 2.9% with 209.160 units sold.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.