Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Mexico’s car production in November fell 13pc to 300,292 units compared to the same month in 2018.


Amia, Mexico’s domestic automotive association, attributed the marked decline to reduced exports to Latin America, Canada, Europe, and Asia. 


Car exports from the country decreased 7.5pc to 268,296 in November while domestic sales saw a decline of 7pc to 124,878 during the month compared to the same time last year, representing a lower steel consumption to produce the units. Mexico’s steel production fell by 3.6pc in October this year to 1.5mn tonnes.


In November, automotive exports to the US, Mexico’s primary trading partner, made up 84.9pc of its total automotive exports, an increase over November 2018’s 78.8pc.


Exports to Latin America in November 2019 declined 26.9pc, compared to the same month last year, to 13,572 cars.


Car shipments to Canada dropped 22.5pc to 12,661 units, while those to Europe were down 48pc to 10,659. Exports to Asia decreased 55.6pc to 1,960 units.


Between January and November 2019, production declined 3.5pc to 3.54mn cars, and car exports over the same 11-month period declined 2.2pc to 3.1mn.


Car production is expected to decline 4pc by the end of 2019 to 3.75mn units, and their exports are also slated to decrease 2.7pc to 3.35mn, due to tapered demand, according to media reports.

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