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back to index backLATINtalk March,  2006

Mexico: Automobiles exports hit record

The value of exports made by automotive and auto-parts industries in Mexico broke a historical record in 2005, by amounting to US$41.9 million, 11.5% over 2004, according to Mexican Auto Motor Sector Information System (Sistema de Información del Sector Automotor Mexicano – SISAM).

The report states that the amount reached last year is 31.3% over the figure for crude oil exports and that the US$41.9 billion in auto-parts and vehicles sales abroad represent 19.5% of total Mexican exports, without the 24% from manufacturing industry.

The report also informs that Mexico has not stopped being an important automotive products receiver, because the value of imports in 2005 reached US$27.8 billion, US$4.1 billion more than 2004, i.e. 17.2%. 

SISAM informed that vehicles were mainly exported to the USA and Canada, where units for an amount equal to US$21.6 billion were sold, above the US$19.8 billion sold in 2004.

As far as auto motors imports in 2004 is concerned, their value amounted to US$10.5 billion, 23.4% more than in 2004, when the amount reached US$8.5 billion.

This strong importing impulse is justified by new brands and new models entering the market and the acceptance of Mexican consumers of foreign vehicles.

Regarding auto-parts exports, this activity’s value amounted to US$20.2 billion, a 13.8% growth when compared to 2004.

Imported automotive components amounted to US$17.3 billion, a 13.8% year-to-year increase, due to an extraordinary demand of auto-parts to meet spare-parts market requirements and the revaluation of Mexican Peso against US Dollar.

Finally, SISAM stressed the increase in imports from China and Brazil, especially in the auto-parts market.

Source: Notimex - GAI

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