Sales of cars in Mexico reach highest level since 2017 driven by Chinese brands
New light vehicle sales in Mexico showed strong performance last year, reaching their highest level since 2017, with a total of 1,524,583 units sold, reflecting a growth of 1.3% compared to the previous year, according to data from the Mexican National Institute of Statistics and Geography.
The public institute’s figures revealed that the Mexican market absorbed over 20,000 additional vehicles between January and December, primarily driven by the entry and expansion of several Chinese brands.
Companies such as General Motors, Ford, and Volkswagen experienced a decline in their sales, amid intensified Asian competition and changing consumer preferences in the local market.
On a monthly basis, sales in December reached approximately 154,000 units, marking a year-on-year increase of 4.9%. The Mexican Association of Automotive Distributors indicated that including the data from non-reporting brands might raise this figure to around 166,000 units, with an annual growth nearing 7%.
The association predicted that the total actual sales for the domestic market during the past year would reach around 1.6 million units, setting a new record, with estimates of annual growth close to 5%, particularly supported by the performance of Chinese brands, led by BYD, which announced the sale of about 80,000 vehicles in the country.
