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.
more recommended stories
Death threats and intimidation of public officials signal Trump’s autocratic legacy
Shelley Inglis – Executive Director, University.
AMLO felt unwell before commercial flight, he took COVID-19 test later
MEXICO CITY (Reuters) – Mexican President.
FDA issues alert about methanol-contaminated hand sanitizer imported from Mexico
U.S. regulators are warning that hand.
U.S. issues terror alert over anti-government extremists
The US Department of Homeland Security.
Hyatt to offer free COVID-19 testing at resorts in Mexico
As a new U.S. requirement goes into effect.
A new cold front would arrive in Yucatan, bringing cloudy and rainy weather
During the early hours of Thursday,.
Yucatan commemorates World Environmental Education Day
Ticul, Yucatán, January 27, 2021.- With.
Government calls on senior citizens to get Covid-19 vaccine
Juan Ferrer, director of the Institute.
White House renews virus briefings: ‘Bringing back the pros’
WASHINGTON D.C. (AP) — For nearly.
80-year-old man rescued by police after passing out in Valladolid
Agents of the Valladolid Municipal Police.