Mexican Auto Industry Beginning to Bounce Back

Mexico is another nation in the Americas that has been struck by the economic woes of the globe, but word has come now that the first 7 months of 2010 have been good for the country as both the making and exporting of cars in Mexico has been on the rise. At the same time, the local market is not what it used to be and growth seems to be very slow in coming, with some wondering how long it will take the country’s car sales to rise once again. A recent statement from the Mexican Association of the Automobile Industry said that between January 2010 and July 2010, the production of vehicles in the country was a little over 75% higher than the same period of months in 2009. The total for 2010′s period ended up being a little over 1.2 million vehicles. Even in comparison with numbers for the January to July period in 2008, when the start of the global recession began, reveals a growth of just under 5%, according to figures from the AMIA. In terms of exports, the total time period for the first 7 months of 2010 say a little more than a million cars sent out of the country, an excellent indication that things could improve, nearly 80% more than the same period in 2009 and almost 8% better than in 2008.

The vast majority of Mexico’s auto exports, around 69% head just north, across the border into the United States, while Latin America receives nearly 10%, Europe close to 9% and Canada a little less than Europe. In terms of the manufacturing sector of Mexico, auto makers are 20% of the company’s overall industry.

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