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

Car production in Mexico increased in July by 0.65pc to 294,946 vehicles, from 293,035 units in July 2019 according to the National Institute of Statistical and Geographic Information (Inegi) data.


Sales and exports remained under pressure on lower demand even though automotive output increased during the month after carmakers resumed operations in June. Car sales declined by 31.2pc to 72,897 units in July from 106,088 vehicles sold in the same month last year, while exports decreased by 5.4pc to 256,098 cars from 270,904 vehicles during the same period.


Year-to-date auto exports decline

Between January and July this year, shipments to the USA fell by 34.4pc to 104,719 cars, from 158,7916 vehicles shipped in the same period last year. Exports to Canada also decreased by 43.7pc to 80,923 units from 143,764 vehicles during the same period under comparison, Inegi data indicated.


Shipments to Brazil fell by 78.5pc to 7,103 cars in the first seven months of the year, down from 33,108 vehicles exported during the same period in 2019, while exports to Colombia fell by 29.8pc to 18,834 vehicles from 26,844 cars during the same period. Mexico’s car shipments to Chile also declined by 59.7pc to 5,364 cars in January-July from 13,303 units exported during the same seven months last year.


Mexican car exports to Europe decreased by 46.5pc to 66,897 vehicles in the first seven months of 2020 from 125,055 cars shipped in the same period last year, while exports to Asia declined by 24.9pc to 22,276 units from 29,678 cars during the same period.


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