Mexican Auto Industry Roars Back: Exceeds Pre-Pandemic Levels

The Mexican auto industry is in full throttle, with August 2023 production and exports surging ahead, according to the Mexican Association of the Automotive Industry (AMIA).

CEO Odracir Barquera reported that production in August hit 325,676 units, up 2.8% from the same month in 2022. From January to August 2023, production increased by a remarkable 12.3% compared to 2022.

August exports grew by an impressive 15.7% compared to August 2022, with a year-to-date increase of 14.0% in 2023. These auto exports continue to drive Mexico’s overall export growth.

SUVs and pickups are the customer favorites, constituting 76% of total production, totaling 1,900,000 units in 2023. Plant capacity utilization in June 2023 stood at 93.1%, surpassing pre-pandemic levels.

In August 2023, 287,845 units were exported, with a cumulative total of 2,123,816 from January to August 2023, slightly exceeding pre-pandemic levels.

The leading export destinations remain the United States, Canada, and Germany, receiving 1,900,000 units in total. Mexico also holds a substantial share of the U.S. vehicle market, with Mexican-made vehicles making up 16.6% of the U.S. fleet.