Mexican authorities said they are on track to produce and export a record number of passenger vehicles and pickup trucks in 2024.
From January through November, auto factories in Mexico produced 3.7 million units, a 5.6% year-over-year increase, according to data released Friday from the National Institute of Statistics and Geography (INEGI).
Pickup trucks accounted for 76% of total vehicles produced at Mexican auto factories during the first 11 months of the year, INEGI said.
Vehicles exported from Mexican factories from January through November totaled 3.2 million units, a 6.5% year-over-year increase from the same period in 2023.
“These results confirm the beginning of a new stage of expansion for the automotive industry. As a reference, 2017 was a record year in production, with 3.9 million vehicles; at the close of November 2024 we are only 168,000 units away from reaching it,” the Mexican Association of the Automotive Industry (AMIA) said in a statement.
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Mexico City-based AMIA is a chamber association formed in 1951 to represent the interests of foreign vehicle manufacturers established in Mexico, including Audi, BMW, FCA, Ford, GM, Honda, JAC, KIA, Mazda, Nissan, Toyota and Volkswagen.
About 87% of cars produced in Mexico are exported, with 80% of them destined for the U.S.
During November, production of vehicles from Mexican auto factories increased 6.7% year over year to 351,535 units. Exports increased 2.9% year over year in November to 289,309 vehicles.
GM factories in Mexico exported 75,319 units in November, an 8% year-over-year increase.
In Mexico, Detroit-based GM has three production complexes, including plants in the cities of Ramos Arizpe (Chevy Blazer and Equinox), Silao (Chevy Silverado 1500 and GMC Sierra 1500) and San Luis Potosi (GMC Terrain and Chevy Equinox), according to GM Authority.
Nissan exported 37,390 passenger vehicles during the month, a 40% year-over-year
Increase. Japan-based Nissan has two factories in Mexico where it produces models such as the Sentra and Kicks.
Toyota exported 26,905 units during November, a 46% year-over-year gain over the same period in 2023. The Japanese automaker produces the Tacoma pickup truck and the Corolla sedan in Mexico.
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