Car production in Mexico surged 9.9 percent year-on-year to 333,677 units in January of 2019, following a 9.7 percent decline in the previous month. Among major automakers, output rose for General Motors (31.7% to 70.3 thousand), Volkswagen (116.4% to 37.5 thousand), Ford Motor (5.2% to 27.5 thousand), Honda (2.5% to 20.5 thousand), Toyota (41.7% to 17.2 thousand) and Audi (26.3% to 17.2 thousand). In contrast, production fell for Nissan (-9.9% to 64.3 thousand), Chrysler (-3.3% to 49.1 thousand), KIA (-0.4% to 24.3 thousand) and Mazda (-63.4% to 5.3 thousand). Also, auto exports rose 4.9 percent to 242,299 units, after increasing 2.3 percent in December, mainly led by Volkswagen (128.5%), Fiat (106.9%) and General Motors (28.7%). Car Production in Mexico averaged 159.49 Thousand Units from 1988 until 2019, reaching an all time high of 381.99 Thousand Units in October of 2017 and a record low of 35.61 Thousand Units in April of 1988.
Car Production in Mexico is expected to be 335.00 Thousand Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Car Production in Mexico to stand at 350.00 in 12 months time. In the long-term, the Mexico Car Production is projected to trend around 360.00 Thousand Units in 2020, according to our econometric models.