MercoPress. South Atlantic News Agency

Mexican auto industry started to recover in June but still is far from 2019 figures

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.

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.