Mexico October Auto Production Up 20% To Record 220,708 Units
November 09 2010 - 1:05PM
Dow Jones News
Mexico's production of cars and light trucks reached 220,708
units in October, up 20% versus the year-ago month and the highest
volume achieved in the history of the production of light vehicles
in Mexico, the National Automobile Industry Association, or AMIA,
said Tuesday.
Exports, mostly to the U.S., continued to fuel auto industry
growth, rising 15% in October to 166,931 units versus the same
month last year, AMIA said in a statement.
January-to-October exports and production showed significant
rises over 2009.
"Accumulated exports this year rose to 1.54 million vehicles,
which is 62.5% higher than in 2009, and 12% higher than in 2008,"
AMIA said.
Total production for the first 10 months of the year rose to 1.9
million vehicles, a 60% increase over the same period last year,
when a sharp economic downturn badly slowed production, exports and
domestic sales.
In October, domestic sales rose 9.2% to 74,094 cars and light
trucks, AMIA said. In the January-to-October period, local vehicle
sales rose 7% to 639,883. The industry group said that domestic
sales continue to be relatively weak, lingering at levels of 10
years ago and 24% lower than in the first 10 months of 2008.
Automobile industry officials have expressed satisfaction with
the export boom in which nearly 11% of all new cars bought in the
U.S. are made in Mexico. But they complain regularly of the lack of
incentives for new car purchases in the domestic market.
"The domestic market of light vehicles could end 2010 at levels
of about 800,000 units, however, the industry will continue to work
closely with the federal government, the president's office and the
legislature, with the goal of achieving a potential market of more
than 1.8 million units a year in coming years," AMIA said.
-By Laurence Iliff, Dow Jones Newswires; (52-55) 5980-5184,
laurence.iliff@dowjones.com
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