Mexico Vehicles Market 2017 have lost 1% having shifted in negative territory since July. Top Brands are losing terrain while recently landed have taken space, with Kia, Hyundai, Suzuki and Mercedes as the fastest growing. 2018 Outlook is negative.
Mexico is navigating choppy economic waters, with leading data for Q4 indicating that growth only recovered somewhat from Q3’s near four-year low. Industrial data up to November remained depressed due to free-falling mining output and decelerating manufacturing production growth. Retail sales contracted again on an annual basis in October on the back of moderating credit growth, painfully high inflation and a weak peso.
Mexican automotive industry in recent years grew up both in terms of local production and domestic sales, fueled by a roaring economy, exports to North and South America, landing of new players, usually with both production and sales, like Mazda, Hyundai, Kia. Growing uninterruptedly, domestic sales grew up from 987.000 units in the 2012 to an amazing 2016 record of 1.604.000. Now the propellent is gone and after a stable first half 2017 the market started the decline.
In the entire 2017, according to data released by the A.M.I.A., the Association of Mexican Automotive Industry, the light vehicles sales have been 1.533.000.
At brand-wise, the market dominator, Nissan is losing more than the industry and in the year to date sales reported 364.557 sales (-9.3%) with market share at 23.8%.
Behind, Chevrolet with 247.876 sales (+2.1%), Volkswagen with 192.704 (-6.5%), Toyota with 105.464 sales (+0.5%), Honda with 88.195 (+0.3%), Kia with 86.713 (+49.2%) and Ford with 83.427 (-16.0%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.