January 24, 2022

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Mexico auto output, exports tumble for fifth straight month

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Mexico’s auto production fell by 20% to 3.04 million vehicles last year during the first phase of the coronavirus pandemic, and the Mexican Automotive Industry Association (AMIA) has forecast that it could drop by up to 5% more in 2021.

MEXICO CITY:Mexican automotive production and exports fell for the fifth month running in November, figures from the national statistics agency (INEGI) showed on Monday, as ongoing shortages of semiconductors put the brakes on the industry.

Mexican automotive production plunged by 20.25% from November 2020 to 248,960 vehicles, while auto exports declined by 16.46% to 240,341 units, the INEGI data showed.

A global semiconductor shortage has prompted automakers in Mexico and the rest of North America to implement rolling shutdowns, curtailing production and hitting workers hard.

Mexico’s auto production fell by 20% to 3.04 million vehicles last year during the first phase of the coronavirus pandemic, and the Mexican Automotive Industry Association (AMIA) has forecast that it could drop by up to 5% more in 2021.

In the first 11 months of 2021, Mexican automotive production fell by 0.68% from the same period last year to 2,767,004 vehicles, while auto exports over the same period increased by 3.02% to 2,479,515 units, INEGI figures show.

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Around 198,300 new cars were registered in November in Germany, according to the federal transport authority (KBA), 31.7 percent fewer than in the same month last year.

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“Continued global supply chain disruption is one main factor behind the sluggish data,” Finance Minister Hong Nam-ki said, referring to the auto chip shortage.

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