Mexico (INEGI): Domestic sales of autos in Feb turn positive, increased by 0.3% year-on-year
Mexico
March 13, 2020
National Institute of Statistical Geography: (INEGI)
Announcement on March 6: (See table)
In Mexico, the number of vehicles sold (excluding large buses and trucks) in February 2020 was 104,328 units, up 0.3% from a year earlier.
Since 2017, domestic sales in Mexico have been on a downtrend due to rising interest rates and the depreciation of the peso against the dollar.
In January 2019, it marked a plus of 1.9%.
However, this is due to the extremely low sales volume of General Motors (GM) in January 2018 (see the article on February 14, 2019)
Effectively, it will increase year-on-year since May 2017.
By Maker: Breakdown
GM: 17,456 units up 18.3% year-on-year
FCA: 5,420 units up 14.5%
Renault: 2,550 units up 23.5%
Japanese manufacturers:
Isuzu: 71.2% increase,
Suzuki: up 5.7%,
Mitsubishi Motors: Sales were up 2.1%.
Rising policy interest rates: (See chart)
Domestic sales / car loan utilization dropped significantly from 68.1% in 2018 to 60.0% in 2019.
-JETRO
https://www.jetro.go.jp/biznews/2020/03/98fca6755578c60d.html