Mexico auto production seen growing 8% in 2024 (updated)
09/01/2024 21:54
(Rewrites with 2024 projections from auto groups)
By Kylie Madry
Jan 9 (Reuters) -
Automotive production in Mexico is expected to grow around
8% in 2024 to top 4,100,000 vehicles produced, industry group
AMIA said on Tuesday.
"We have really a really positive outlook on this year,"
AMIA head Odracir Barquera said in a press conference, adding a
boost in production was expected from electric vehicles.
Mexico saw auto production grow 14% in 2023, according
to data released earlier in the day from national statistics
agency INEGI.
Exports, meanwhile, climbed 15% in 2023, according to
INEGI data.
"For both sales and exports we're also expecting the
trend of positive growth we've seen (in 2023) to continue,"
Barquera added.
Domestic auto sales grew 24% in the year, INEGI said.
Auto distributor group AMDA said it expected sales to edge up
nearly 7% in 2024 to top 1.45 million units.
However, slowdowns at customs are affecting the
industry's ability to get goods in and out of the country, AMDA
head Guillermo Rosales said.
"We have to work with the federal government to
modernize customs processes and port operations," Rosales said.
In recent years, the administration of Mexican President
Andres Manuel Lopez Obrador has handed over customs and port
duties to the armed forces.
(Reporting by Kylie Madry and Natalia Siniawski
Editing by Marguerita Choy)
((natalia.siniawski@thomsonreuters.com;))