20 Apr 20
News

Mexico auto exports to U.S. could drop a million units - report

Mexican automobile exports to the United States could drop by as much as 40% in 2020, according to Manuel Montoya who is president of Mexican automobile industry group Red Nacional de Clusters de la Industria Automotriz.

The executive said that exports to the U.S. (which totaled 2.64 million in 2019) could fall between 20-40% this year (possibly one million units) owing to the economic complications brought on by the new Coronavirus (COVID-19) pandemic, Mexican news service AM reported.

According to market analyst JATO Dynamics, car sales in the US this year is estimated to drop some 20% to 14.2 million units. Meanwhile, J.D. Power expects sales in Mexico to fall by approximately 24% to just over one million units.

In 2019, automobile exports to the U.S. represented 79% of Mexico's total foreign sales, according to data from national statistics and geography institute Inegi in cooperation with local automotive industry association AMIA.

 

 

Authored by: Daniel Bland