Car production in Mexico decreased 1.0 percent year-on-year to 292.6 thousand units in July 2019, following a 4.4 percent fall in the previous month. It was also the lowest figure for a July month since 2016. Among major automakers, output went down for FCA México (-2.4% to 55.9 thousand), Nissan (-21.6% to 38.4 thousand), Volkswagen (-36% to 32.3 thousand), Audi (-5.3% to 13 thousand) and Mazda (-44.1% to 7.8 thousand). In contrast, production rose for General Motors (19.3% to 77.3 thousand), KIA (28.9% to 21.5 thousand), Ford Motor (1.9% to 17 thousand), Honda (542.3% to 14.8 thousand) and Toyota (17.5% to 12.6 thousand). Meantime, auto exports grew 9.5 percent to 270.9 thousand units, after increasing 1.7 percent in June, namely driven by General Motors (27.1% to 74.6 thousand), FCA México (5.1% to 50.8 thousand), Ford Motor (36.3% to 16.2 thousand) and KIA (39.2% to 15.8 thousand). Car Production in Mexico averaged 162.14 Thousand Units from 1988 until 2019, reaching an all time high of 381.99 Thousand Units in October of 2017 and a record low of 35.61 Thousand Units in April of 1988.
Car Production in Mexico is expected to be 335.00 Thousand Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Car Production in Mexico to stand at 360.00 in 12 months time. In the long-term, the Mexico Car Production is projected to trend around 370.00 Thousand Units in 2020, according to our econometric models.