Vehicle production in Mexico fell by 13.15 percent in August compared to the same period last year, while exports fell 8.59 percent in the same period year-on-year, the National Institute of Statistics and Geography (Inegi) reported on Friday, Sept. 4.
According to the Inegi, Mexico manufactured 293,463 vehicles in August of this year, with 257,610 destined for foreign markets.
Between January and August of this year, Mexico recorded a year-on-year drop of 32.59 percent in the manufacture of light vehicles, for a total of 1,761,107 units, and exports fell by 33.37 percent in the first eight months of the year.
Mexico began on June 1 to gradually reactivate some sectors of the economy that had been closed at the end of March to slow the spread of the novel coronavirus.
In 2019, the country was the sixth-largest world producer of heavy and light vehicles, according to the Mexican Association of the Automotive Industry (AMIA).
The International Monetary Fund (IMF) has predicted a 10.5 percent drop for the Mexican economy in 2020 due to the covid-19 pandemic.
…Sept. 7, 2020