With General Motors and FCA as leaders, Mexican exports of light vehicles totaled 234,584 units in April, an increase of 652% year-on-year, Inegi reported.
The automotive sector is one of the most important industries in Mexico and employs more than 1 million people throughout the country.
Last April, General Motors exported 55,400 units, followed by FCA (27,814), Nissan (25,438) and Ford (20,645).
Regarding year-on-year growth, this was mainly due to the fact that its comparison base was too low as a result of the sales slump in April 2020 related to the Covid-19 pandemic.
Due to the pandemic, in that May activities in the tourism and hospitality sector were suspended, automotive agencies did not open and there was a collapse in consumer sales in general.
From General Motors’ perspective, the economic impact of efforts to contain the spread of Covid-19 in the past year strained the finances of individuals and companies, large and small, around the world.
Therefore, the extent of the pandemic’s impact on future General Motors operations will depend, among other things, on the duration and severity of the subsequent outbreak or outbreaks, related government responses, such as required physical distancing or restrictions on operations. trade and travel, the rate of recovery of economic activity and the impact on consumers, and the availability and efficacy of vaccines.
Automotive companies also face continuous market, operational and regulatory challenges in various countries around the world due to, among other factors, weak economic conditions, exchange rate volatility and political uncertainty.
In the accumulated from January to April 2021, Mexican exports of light vehicles were for 928,223 units, an annual increase of 10.7%.
In particular, General Motors exported 190,131 units, which represented a contraction of 4.6% compared to the accumulated as of April 2020.