Mexico’s Auto Industry

1/11/2017 Americas Society/Council of the Americas

automobileMexico might have to face the threat of losing automaker investments over fear of a future U.S. “big border tax,” but it can celebrate a record year for its auto industry. December 2016 saw more car sales and more vehicles produced than any other month in the country’s history, according to the Mexican Automotive Industry Association. As such, 20 percent more cars were sold in 2016 than the year before—a total of 1,603,672 light vehicles, more commonly known as passenger cars, ranging from sedans to pickup trucks.

The booming auto sector makes Mexico the seventh-largest car producer in the world and the top one in Latin America, overtaking Brazil in 2014. It’s also the world’s fourth-biggest vehicle exporter, as well as the sixth-largest largest auto parts producer, making $85 billion worth in 2015. All in all, the auto industry accounts for about 3.2 percent of the country’s GDP.

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