Auto sales in Mexico recorded ninth consecutive monthly decline

In February, 109,484 automobiles were sold in Mexico, 7.2 percent less than in the same period last year, according to data from the Mexican Association of Automotive Distributors (AMDA). This is the ninth consecutive fall recorded by the automotive industry in the domestic market, and the first for a second month of the year since 2014.

Guillermo Rosales, Deputy General Manager of AMDA, told El Financiero that the increase in inflation in the sector, as well as the greater requirements to obtain an auto loan, continue to impact the sale of vehicles in Mexico.

“The increase in the price of gasoline in the last two months does not help either, it is a factor that influences the inflation of the sector,” said the executive.

He stressed that this negative trend in car sales of the last nine months could continue until July of this year, after Mexico’s presidential election.

“We maintain our car sales forecast for 2018 between 1,453,000 and 1,530,000 vehicles,” Rosales added.

In figures accumulated between January and February of this year, 218,629 vehicles were marketed in Mexico, 9.4 percent less than that reported in the same period of 2017. This negative variation is the first that the industry has presented since 2010 but it is the largest since 2009.

Nissan holds the first place in sales with 23.6 percent market share, Volkswagen Group comes in second with 14.5 percent, and General Motors is third with 11.1 percent, while Toyota and KIA have 8 percent of market share each.

A case to be highlighted is General Motors, which reported a reduction in sales of 20.5 percent in February, its second consecutive monthly decline; this is because the company announced changes in its sales volume mesaurement mechanisms.

Source: elfinanciero.com.mx

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