Recently published research from Business Monitor International, "Mexico Autos Report Q2 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/25/2013 -- Executive Summary
In 2012, passenger car sales in Mexico increased 9.8%, to 649,333 units. Light commercial vehicle (LCV) sales increased 7.4% over the year, to 338,414 units. For much of the year, we had forecast growth of 8.7% in the passenger car segment, and 9.0% in the LCV segment. After strong growth in the beginning of the year, we believed that passenger car sales would moderate later in 2012, in line with our view of a slight slowdown in private consumption growth. This had a smaller effect than we had anticipated.
After strong growth in the beginning of the year, we believed that private consumption growth would moderate in the second half of the year as consumer credit plateaued and unemployment crept up. We believed that these factors, combined with elevated inflation, would weigh on consumers' purchasing power, moderating passenger car sales from levels seen earlier in the year.
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In 2012, light vehicle (passenger car and LCV) production increased 12.8%, to 2,884,869 units. Over the year, vehicle production for export, which constitutes some 83% of the total, increased 15.1% year-on-year, to 2,405,188 units.
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