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Vehicle Production in Mexico on the Rise

October 10, 2023

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Mexico Now reports that vehicle production in Mexico grew by 13.54 percent year-over-year in the first three quarters of 2023. Mexican plants assembled more than 2.85 million light vehicles from January to September, about 340,000 more than during the same period of 2022. Light trucks accounted for 76.3 percent of the total produced, according to the National Institute of Statistics and Geography, while the rest corresponded to the manufacture of vehicles.

Meanwhile, vehicle exports increased by 14.22 percent year-over-year in the first nine months of the year, totaling 2.42 million. And domestic sales of light vehicles in the first three quarters of 2023 rebounded by 24.94 percent, with 975,841 units sold nationwide.

According to the Mexican Automotive Industry Association, the automotive industry represents almost 4 percent of the country’s national gross domestic product (GDP) and 20.5 percent of the manufacturing GDP, more than any other sector.

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