Mexico October Auto Production Up 20% To Record 220,708 Units
 Laurence Iliff - Dow Jones Newswires
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November 10, 2010
Mexico City - 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.
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