Mexico’s auto production and exports picked up steam in June from a month earlier but were down sharply versus a year earlier, official data showed on Tuesday, as carmakers reopened plants from their coronavirus-induced shutdown.
Production jumped nearly 11-fold in June to 238,946 units, from 22,119 units in May. Year-on-year, production slipped 29.3% in June.
Mexico exported 196,173 units in June, up 13 times versus the 15,088 units shipped in May. Still, exports were down 38.8% in June from a year earlier.
The Mexican Automotive Industry Association (AMIA) estimated that production of light autos could fall between 28-30% in 2020, while exports may slide by 30-33%.
Mexico’s auto industry accounts for about 4% of gross domestic product and generates nearly 1 million direct jobs, according to AMIA.